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I am moving to a different apartment in a big apartment complex and I would like to know if it is legal for a landlord to ask for your bank name, account number and your current balance on a rental application.
I am very uncomfortable giving out that information.
It is legal, but I'm always a little weirded out by asking for bank account numbers up front as well. I'm fine with a bank statement, but the account number will be blacked out. Sure, they'll have your bank account number if you pay them with checks anyway, but personally, I like to have a business relationship established first before I give that kind of information out. I have no problem passing on prospective places because I wasn't comfortable with the information they wanted on the application, before even letting me look at a unit. Also, insisting I provide a credit card number for their file at any time is always a no-go for me.
That said, have you actually met with the landlord? There are scams (esp on places like Craigslist) where people post bogus rentals to get people to submit an online application with personal information that they'll then sell.
I am moving to a different apartment in a big apartment complex and I would like to know if it is legal for a landlord to ask for your bank name, account number and your current balance on a rental application.
I am very uncomfortable giving out that information.
I live in Massachusetts.
I'm sure it is legal for anyone to ask anything of anybody...however, it is your choice as to whether or not you provide it. My bank account info is off limits to anyone other than myself or my S/O. I clearly draw a line through this particular invasive 'request' and note 'DNA'. You see, it's really non of their business.
Koale
I am moving to a different apartment in a big apartment complex and I would like to know if it is legal for a landlord to ask for your bank name, account number and your current balance on a rental application.
I am very uncomfortable giving out that information.
I live in Massachusetts.
I just leave that part of the application blank. Nobody gave me any problems.
We won't ask it, but if you feel you rather don't give it out than never pay by check since the check has your account number on it and we always keep a copy so we have that for our file...
Location: When you take flak it means you are on target
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While most of you on this forum are educated, quality, upper class tenants, the vast majority of the tenant pool is very, very poor quality and getting worse by the year. Landlords who wish to avoid constant litigation have to protect themselves and their assets, and one way we can do this is by verifying information.
As a LL and investor I am often required to provide bank information. And I probably have a lot more in my accounts than most tenants. Nobody is going to steal my money out of the account. It can't be done, and if it is the bank is responsible. Few LL's are stupid enough to try to steal from a tenant, and if you feel a LL is weird or a crook, then you shouldn't rent from them.
We ask for bank account numbers so that when you don't pay the rent we can seize funds or cause you hassle of changing accounts. We ask for statements to see if you are really depositing those $10,000 a week pay checks you supposedly get, and how frequently and for how long. (LOL)
And we ask to see if your check will be any good or if it's going to bounce every month costing us time and money.
If I am going to turn over a piece of property worth anywhere from $150,000 to 3 million dollars to your care I am entitled to know if you are a con artist who is out to take me.
So the bottom line is refusing to provide information may get you turned down. Or you can pay your lease in cash in advance. Of course then I'll wonder why you want to pay in advance and assume you are a con artist until proven otherwise. Ya just can't win.
While most of you on this forum are educated, quality, upper class tenants, the vast majority of the tenant pool is very, very poor quality and getting worse by the year. Landlords who wish to avoid constant litigation have to protect themselves and their assets, and one way we can do this is by verifying information.
As a LL and investor I am often required to provide bank information. And I probably have a lot more in my accounts than most tenants. Nobody is going to steal my money out of the account. It can't be done, and if it is the bank is responsible. Few LL's are stupid enough to try to steal from a tenant, and if you feel a LL is weird or a crook, then you shouldn't rent from them.
We ask for bank account numbers so that when you don't pay the rent we can seize funds or cause you hassle of changing accounts. We ask for statements to see if you are really depositing those $10,000 a week pay checks you supposedly get, and how frequently and for how long. (LOL)
And we ask to see if your check will be any good or if it's going to bounce every month costing us time and money.
If I am going to turn over a piece of property worth anywhere from $150,000 to 3 million dollars to your care I am entitled to know if you are a con artist who is out to take me.
So the bottom line is refusing to provide information may get you turned down. Or you can pay your lease in cash in advance. Of course then I'll wonder why you want to pay in advance and assume you are a con artist until proven otherwise. Ya just can't win.
The problem is that this works both ways. (So you're right, you definitely can't win. )There are also deadbeat landlords/crappy property managers out there that try to charge people for things they shouldn't. Legally, there is a difference between someone trying to use bank or credit card information that was given to them by the tenant in writing than, say, trying to use the account information off of a check.
If my immaculate credit, employment history, and rental history aren't enough, I'll walk. To me, asking for things like account numbers is a red flag, both for the landlord and the kind of person that will likely be my neighbor. I'm sure a lot of the people who ask for these things are totally fine, but I have no way of knowing for sure why the landlord is asking for that sort of information, so I'm happier simply not renting from someone with those requirements. And there are landlords out there who have missed out on a fantastic tenant because of it.
With unscrupulous LL's wanting you to pay for replacing carpet that's 18 years old ( because that is their motus operandi in getting new things for units instead of paying for carpet themselves ) and charging you for things in hopes that you get zero of your deposit back, then the tenant has a right to question this procedure.
It's not like you are buying a million dollar property and funds need to be establised but instead you are in an older antiquated apartment with few repairs ever being done while you lived there and when you leave you receive a $ 5,000 bill for repairs and your LL has access to your bank account .
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Seems to me...
