A landlord is asking for bank account numbers on a rental application and I was wondering what they want this?
stan450z asked:
I am moving into a nice apartment in new york with other people, and they ask for bank account info.
I am moving into a nice apartment in new york with other people, and they ask for bank account info.
Will they likely call the bank, and if so, what information are they looking for? How much i’ve got in the bank?
My concern is that i only keep a little bit in checking and like 90% of my money in brokerage accounts since I am a trader. I gave them this account number too so they can verify funds. Will they consider this money if they are looking for how much money I have?
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They may want it to get access to your account in case you are delinquent on rent. I’d say OK to giving them the name of the bank you have your account with. But I wouldn’t give them bank account numbers.
That sounds fishy.
They should only be asking for the basic informations from you (employer, previous rentals).
Most of the time it is a standard question on a rental application. They may want to verify that you have an account. If you are uncomfortable, just put **** and the last 4 digits. If they ask you about that, then find out why they are wanting to know and let them know you are uncomfortable with sharing that information.
I absolutely agree with David M . He has no business with your account number. I have not rented in a long time but I do know you fill out an application with references he can check. Also all the information he needs about your job. You pay him a deposit and the first months rent and sign a lease if one is required. That is it.
Typically its a standard term of a rental or lease agreement that you make annually 2 or 3x as much as the total rent.
Its your bank account, so if they call your bank, all the bank can tell them is what the balance is. They can’t withdraw, hold, or move around funds. You shouldn’t be concerned about that.
Also, they can’t question how you budget your money. The landlord will just want your rent each month… no matter where it comes from.
If you’re concerned about giving out personal finance information (and you should be, there ARE a lot of shady landlords and property managers out there), just give them a copy of a recent w-2 to prove to them how much money you’re capable of making, to qualify you for the property.
I would strongly suggest you not give out your account information, even to your landlord and especially not on paper. By law, the bank is not allowed to give anyone your account information if they are not listed on the account. Since your landlord is not listed on your account, he/she will not be able to access your account. The bank cannot even tell him/her that you have an account with them. There is no need for them to know this information.