I’m filling out paperwork for an apartment. The form is asking for information that I’m not comfortable sharing. Is it normal for a rental agency to require your bank account (both savings and checking) and all credit card numbers? Or am I just being paranoid?
It’s been a long time since I’ve filled out a rental form, but I wouldn’t feel comfortable giving out that information. If they’re running a credit report, I think they just need basic info like your name and social security number, and the credit reporting agency finds the rest.
Rental Property Management Agent here: Our application forms do request bank information. If it makes people nervous, we just tell them to put in “on request” or “at acceptance.”
Yes, it’s fairly common. Think of your landlord as comparable to a mortgage lender. Before he is going to rent an apartment to you, he has to be reasonably sure that you have the financial stability to make the monthly rent payments.
Just like applying for a loan, they want to evaluate your current financial status, debt/income ratio, etc.
I’ve been asked that both times I leased an apt in New York City. When they do a credit check, don’t they get that info anyhow? Or do they just get your credit score?
You request account numbers? If so, you wouldn’t be renting to me. Account numbers aren’t needed for a credit check and I sure wouldn’t want mine on file where I have no idea who has access.
Now, if a tenant were going to pay the monthly rent by direct withdrawal, or by credit card (although I’ve never heard of this) the landlord would need the acct. numbers for that.
It’s a matter of establishing financial stability and having something on record (Our files are locked and only three people have access to them). Most people pay by cash or money order. If they bounce a check, we demand certified funds or cash.
Back when I was a renter, I do recall being asked to provide either checking account information or credit card information, or possibly both. I understood it to be an attempt to confirm my financial responsibility. I was not too concerned about it, since I would not have authorized any charge to the card and the bank account number (without more) didn’t allow them to do anything other than establish that I had an account.
But all your accounts and credit cards? That’s not SOP, so far as I know. I would ask them why they were asking.
If you intend to pay by check, the landlord gets the account number anyway, as does anyone else getting your checks. Other than that, the landlord will get the credit card numbers on the credit check, I think. The landlord will get the info anyway.
If you get a written rental agreement, check to see if the agreement has late fees for late rent. I bet it does. Then compare that to see if the agreement has late fees if the landlord fails to return your security deposit on time. I bet it doesn’t.
I hate it when landlords want $40 for rent one day late, then take their own sweet time getting security deposits back without consequence for tardiness.
Ask for a security deposit late fee to match the rent late fee.
I had a rental application for my credit card numbers once (not banking account info though). I just wrote “N/A” in that part. The manager never mentioned it or asked for it (if they had insisted, I certainy would have high-tailed it out of there).
As a landlord I can understand why they would want it, but I wouldn’t provide it if I were the prospective tenant. Sure, the landlord can copy my acct. number from my check, but I think that’s different from putting it on a form, that probably has your signature on the bottom. What if the fine print (there’s always fine print and people rarely read it carefully) says that you authorize acct. access?
To answer the OP, I guess it depends on how badly you want the apartment. I’d leave it blank and then decide late, if they told me that it was required.
Our applications to rent also ask for banking and credit card information. I advise people who query this that they “don’t have to give us the account numbers, we just want to know that you’ve established banking services. You can put something like ‘CIBC chequing’, and that should be fine.”
We do credit checks on promising applicants, and for that I need a SIN (social insurance number) but can often get them without the SIN.
In BC, Bearflag70, we have 14 days from the end of tenancy to either return the security deposit or file for abitration, or the tenant is owed double.
I have a faint memory that some States prohibit landlords from asking for things like credit card numbers. You might want to Google around for regulations for the State you live in.
Then you don’t sign the application. Never sign anything you haven’t read completely.
In New Jersey, a landlord is allowed to charge 5% late fee if the rent is not paid by the fifth of the month. The landlord has thirty days after the tenant moves to give them an itemized list of damages and the amounts deducted and the balance of the security plus interest. A security deposit late fee to match the rent late fee would be illegal.
There is no need for that. They are just being nosy. I will be graduating soon and I fill out a lot of applications and most still DEMAND a social security number. I’m only 25 and already I’ve TWICE gotten problems with people trying to open credit card accounts. Both times I traced the problem back to a job person. In one case the guy was fired after I got the cops involved, but the company never got involved or even apologized.
If they want to run a credit check fine, let them that would have all they need to know about how many accounts and such you have open.
But if you want the apartment bad enough do this. Give them the numbers and then as soon as you get in (or denied) CANCEL all your accounts. Tell the credit card companies you lost your wallet and get ALL The numbers changed as soon as you know either way. You’ll get new cards in a week and no one can do any harm to you in the future.
No, it is not normal and it is a severe Identiy Theft risk. Yes, they will have to ask where you bank, and when they run your credit report they can see what cards you have and how current you are- but they do not get to see the entire number!
I’d take a copy of that form and report them to your States Consumer Protection agency and possible local agancy and not rent there either.
Myunderstanding is that in California, the landlord has 21 days to refund the deposit with an itemization, or if the repairs cannot be done within 21 days, provide an itemized estimate with a follow-up once the work is complete.
If the landlord fails to do so, the landlord has waived the summary deposit deduction right and must refund the full amount. The landlord can, however, sue for damages to the premises. The tenant can file a compaint in small claims or superior court to get the deposit back, but the landlord can claim property damage offsets. If the tenant can prove the landlord withheld the deposit in bad faith, then the landlord may be penalized double the amount of the deposit.
I am not aware of anything in California law that would make a contractual late fee unenforceable for a landlord’s failure to refund a deposit or provide an itemization within 21 days.
I guess the question that’s not being answered is what the landlord could possibly do with this information. If the goal is to verify financial stability, a credit report would do that better. That’s the whole point of the credit report.
If you’re not going to run a credit check, having me write down “XYZ Bank” and the account number doesn’t tell you anything about my financial status. Firstly, there’s no way to verify I’ve told the truth. I presume the bank won’t let the landlord walk in with my account number and give them my balance or any other details. And if the landlord is too lazy or too cheap to run a credit report, I can’t believe they’d do this kind of legwork. Secondly, having an account doesn’t really tell you anything about my cash flow or my ability to make payments.
Unless the landlord runs a credit check, having account information doesn’t seem to serve any real useful purpose. And if the landlord does run the credit check, they’ll get the information that way.
**Savannah **and Annie-Xmas both seem to suggest that its not necessary to provide account numbers, which makes good sense. Too much potential for trouble and no benefit whatsoever.