Saturday, October 24, 2009

Are tenants required to give out bank account information during the application process?

I am in the process of filling out a rental application for a home and it requests bank account # and information as a part of the application. Do they have the right to ask for this? Can it be denied by me? They say they need to check if their are sufficient funds, however I am a student and will be receiving money from family and loans. Do they have the right to turn me away as a result of not giving out such important information?
Are tenants required to give out bank account information during the application process?
Yes, that is very common and legal. You can refuse to give it, however don't plan on getting the apartment. Landlords, just like credit companies, want to make sure your financially stable before they let you onto their properties.
Reply:I was once in your situation. Don't worry, everything will work out for you =)





A year ago I found this organization that gives people up to $1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money.








http://www.house-mortgage-rent-help.org





Good Luck!
Reply:The applications that I ask my prospective tenants to fill out ask for that information. It's very legal and is a good way for a landlord to know if you have the funds to rent the apartment or house your looking at. You don't have to give the information, but the landlord doesn't have to rent to you if you don't
Reply:Yes, they can. However you can ask if it is necessary.
Reply:You don't have to give every bit of information requested. Most landlords use standard forms, and may not want or need every single piece of information. However if you don't give enough to check your credit, your application is consigned to bottom of pile. I would NOT give bank account #s. And yes, they can legally deny you an apartment for many reasons, including lack of adequate income, not completing application form, bad attitude, sense of entitlement, etc.
Reply:I've never been asked for bank info. never. And since I've been with my fiance we've moved, in multiple states, 5 times. I'd be suspicious and talk to you local authorities, normally there is a department that will let you know about how legit a rental place is and whether or not they've had complaints.
Reply:I think something smells funny. My friend is a leasing agent and she even said that something is probably wrong. I would call the company back and tell them that you are uncomfortable giving that information and see what they say.
Reply:They can decline your app for any reason. However, I would not provide that info.
Reply:Creeps ...





I would not give them that on just an application. It is none of their business at this point.





However, on principle, ask if CASH is acceptable as your first/last/security and I'll bet that will suit them fine.





Of course, if you pay by personal check later on, they will have your bank account # from the check. Who cares - what can they do with that?

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