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I am trying to rent studio apartment in Chandler, Arizona. This is first time i am renting apartment by myelf, i don't have job because i am full time student. The apartment company i am dealing is big corparation. When i first visited them they gave me 3 options: pay stubs or notarized statement (saying that someone gives me 3X rent money every month) or have balance of entire lease rent.
So i chose full balance option and went with it. Now they are demanding to see my bank statement details and also want notarized latter proving that my parents will be paying rent.
I was like why? i have full balance for entire lease term , there is no reason for them to question other things. When i try to get hold of manager she wont talk to me. The leasing agent lady kept saying my application is just fine , just need proof of income.
Now i don't want to give them my entire bank statement because they dont need to see how i spent money. Granted i gave me them statement first page just to show balance but i erased account number.
Is there any way to deal with this without giving my bank statement? i am thinking to offer them 2 months rent at same time. I am still thinking i shouldnt do that.
Well they don't want to take your word for it that you have X amount of money. Anyone can say they have X amount of money. Do as you said and give them the first page showing balance only.
I was like why? i have full balance for entire lease term , there is no reason for them to question other things.
Because its SO easy to get together with a few friends, and loan money to each other for a short time to be able to have a big balance statement for these purposes. I'm surprised they are not asking you for a few months of balance statements.
I would know, we did it a few times in college. None of us had $16k in cash in the bank, but four of us did have $4k each. So in a few weeks that turned into each of us having $16k in the bank, with "proof" of it.
Last edited by Oldhag1; 05-13-2015 at 10:12 AM..
Reason: Quote edit
Because its SO easy to get together with a few friends, and loan money to each other for a short time to be able to have a big balance statement for these purposes. I'm surprised they are not asking you for a few months of balance statements.
I would know, we did it a few times in college. None of us had $16k in cash in the bank, but four of us did have $4k each. So in a few weeks that turned into each of us having $16k in the bank, with "proof" of it.
They did see my 3 months balance. It has been same or increased slightly. Well i just talked to them, they said they want see my bank statement for 3 months showing that my parents give me X amount every month and they are charging me $337 as deposit. I am going to question why they charging me deposit.
If it makes you feel better, what they are asking for is not unreasonable. If you don't want to give them your statement but still give them the ability to verify that you have the lease balance and its been in the account for a long period of time; you can do the following:
1. Ask you bank to provide you with a letter stating your current total balance.
2. You may also ask them to list the average balance amount for the last 3, 6, 9 etc. months. This will verify that the money has been sitting there.
3. Have a bank manger sign the letter and provide a contact number. This is not something a manager is required to do so you may have to ask several branches to get a manager who will do this.
They did see my 3 months balance. It has been same or increased slightly. Well i just talked to them, they said they want see my bank statement for 3 months showing that my parents give me X amount every month and they are charging me $337 as deposit. I am going to question why they charging me deposit.
What do you mean question why they are charging you a deposit? Is it a deposit to hold the place or a security deposit?
You give a security deposit in case you damage the place.
Last edited by Oldhag1; 05-13-2015 at 10:15 AM..
Reason: Quote edit
IF you have no proof of income a LL would require proof of some sort of financial statement. Your bank acount is pretty minimal imo because ( as Carlitos stated it could be borrowed money) you can have a bunch of money but LL cant stop you from spending it all a week after you move in.
So right now a LL would see you as a risk. they may/would require at least a cosigner if they were to even go through with leasing to you.
They did see my 3 months balance. It has been same or increased slightly. Well i just talked to them, they said they want see my bank statement for 3 months showing that my parents give me X amount every month and they are charging me $337 as deposit. I am going to question why they charging me deposit.
Why would they NOT charge you a deposit??? Usually deposits are at least equal to a full month's rent. If they are only charging you $337 deposit, they are letting you off SUPER light. I would take that deal and run with it.
Last edited by Oldhag1; 05-13-2015 at 10:15 AM..
Reason: Quote edit
Why would they NOT charge you a deposit??? Usually deposits are at least equal to a full month's rent. If they are only charging you $337 deposit, they are letting you off SUPER light. I would take that deal and run with it.
Haha they just called me and said i am approved , i didnt have to make second round to office to submit my detailed bank statement. They said to come on 25th to do lease paperwork. They are being easy on me because that apartment and area isnt so great. I am just going to rent there because its cheap and need to save some $$ while being college student. My lease is only 6 months!
Haha they just called me and said i am approved , i didnt have to make second round to office to submit my detailed bank statement. They said to come on 25th to do lease paperwork. They are being easy on me because that apartment and area isnt so great. I am just going to rent there because its cheap and need to save some $$ while being college student. My lease is only 6 months!
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Landlord wants to see bank statement - UPDATE
