You need to know if your tenant can afford the rent. They say they can. Their bank account tells a different story.
Tenalet pulls verified bank data and shows you exactly what your tenant earns, where it comes from, how long it has been coming in, and what they take home after tax. No guessing. No forged documents.
When someone applies through your ToletLink, they securely connect their bank account via Mono.co. They give explicit consent. Tenalet then pulls their transaction history directly from their connected bank account(s).
No payslips. No employer letters. No documents that can be forged. You get real financial data, verified at the source.
The income verification report has four sections. Each one answers a different question about your tenant's finances.
This is the first thing you see on the report. Two numbers, both expressed as a multiple of your rent.
Gross monthly income is the total detected income across all sources before tax.
Net monthly income is what the tenant actually takes home.
For salaried income, Tenalet back-calculates gross pay from the detected salary deposit using Nigerian tax tables (PAYE, pension, NHF). For non-salary income, amounts are calculated directly from transaction data.
Why both numbers matter: a tenant earning 500,000 gross might take home 390,000 after deductions. If your rent is 208,333, that is the difference between 2.4x and 1.9x your rent. Both are above the threshold, but the gap tells you how much breathing room your tenant actually has.
Your tenant might earn a fixed salary from one employer, or they might be a trader whose revenue spikes in December and drops in March. A payslip would show you one of those income streams. The bank data shows all of them.
Tenalet's AI scans the tenant's transaction history and identifies every recurring income source by name. For each source, the report shows:
Here is what that looks like in practice. A tenant applying for a 208,333 monthly rent might show:
MONAKA NIGERIA is the primary income. It has been consistent for 10 months and covers the rent comfortably on its own. The other sources are minor and recent - supplementary, not dependable. If those minor sources disappeared tomorrow, this tenant can still pay your rent.
This section shows total money flowing into the tenant's account, month by month, for the full period of available data. Each month is expressed as a multiple of your rent.
A tenant with Above 3x for 10 straight months and 1.7x in two months tells you something different from a tenant who swings between 3x and below rent every other month. Both might have the same average income. Only one is consistent.
If the tenant connected multiple bank accounts, the inflow history is broken down per account so you can see where the money is actually landing.
The final section shows the average daily balance for each connected bank account, expressed as a multiple of rent.
This answers a simple question: Does your tenant keep money in the bank, or does everything that comes in go straight out?
A tenant with high income but a balance consistently below rent might be living paycheck to paycheck. A tenant with moderate income but a balance above 3x rent has a financial cushion that protects you if something disrupts their income for a month.
Four questions, 60 seconds, you have your answer.
If the answer to all four questions looks good, you have a financially qualified tenant.