Apartment application asks for checking & savings account # and balance!???

Question

We're PCSing to VA and we've requested info on a couple apartments. One of the apartment applications asks for checking and savings account numbers and balances. It also has a list of all possible income and asset holdings. I've lived in Savannah my whole life, lived in several apartments and bought a home and I've never had to give this info before! Is there a way for me to refuse to give them this information? If they do a credit check they'll find I'm more than capable of leasing the apartment, I just don't think it's necessary for them to have my entire financial history.

Answer 1

This isn’t an uncommon request despite that you’ve never seen it before. Credit history aside, what you have in liquid assets is a consideration for some landlords in your ability to pay.  

Answer 2

Call them up and voice your concerns.  Offer them bank statements with the numbers blacked out.  

And yes, this is normal with the current state of the housing economy.  People are in credit trouble and they need to assess a qualified tennant.  Usually these types of thorough people make the best landlords.

Answer 3

Sure they have the right to ask for anything and if you refuse they'll go to the next potential tenant. the problem with the application is it could be found in file cabinets for someone else to look at and take down later and mess you up.  So, the best solution is to give them what they want and just flip a couple of the digits within your account numbers and they will do a credit check on you, but they will never check your account balances.  If they do, just say you must have made a mistake and ask them where will they keep the application information.  If you don't feel secure tell  them you will have the bank call them and tell them the balances.  Don't worry if they do a credit check that's as far as they will usually go and you are home free.  If you don't learn to protect yourself they're not going to do it for you, they could care less.  Good luck and not to worry, there is just too many other apartments going begging for good tennants like you.

Answer 4

That is more information then they need to do a credit check. It isn't uncommon for apartments to have policies in which you must earn a certain amount over your rent, say you must bring home 3x what the monthly payments are. If that is the case your current account shouldn't be valid and they should be asking for a paycheck stub to show what you make and that you are currently working. I would not give them any personal information in regards to bank accounts and balances.  

Answer 5

Best way I know would be to just rent elsewhere. Is there anything about this apartment or complex that justifies this intrusiveness?

Legally they can probably ask anything they wish and this may be a way to avoid spending credit check $ but in yrs of managing apartments and yrs before that of renting that goes beyond anything I have ever heard of too.

Answer 6

If the apartment is a government subsidies or have a income limitation, then yes they may ask you for the bank account info. They might need to make sure your asset does not over the limit as well. Directly bring up your concerns to them see if you can be waived or just tell them you don't have any savings account but it may affect you qualify the place.

Answer 7

State laws can vary quite a bit, so thanks for mentioning you're looking in VA.

Looking at the Virginia Landlord-Tenant handbook (link below), and reading the entry under the rental application, it does not specify that the landlord can ask that question...so you're not required to provide it as far as the state is concerned.

On the other hand, it does not specify he can't ask for it either.  If you don't provide it, he may not accept you.  

So what to do?  

When I found myself in your situation (here in Calif.), I simply provided the checking account number and bank name.  (which he'd get from the checks I paid rent with anyway).  No balances, no statements, no savings info.  It was enough for my prospective landlords, and not so much that I was uncomfortable.  

If he's not collecting an application fee, fill in only what you feel comfortable with and submit it. If he is collecting a fee, talk with him about it before you submit the app.  If he's going to automatically reject it without that info, and you don't want to provide it, go somewhere else.

My strongest advice is to consider how you get along with your landlord BEFORE you sign a lease or move in.  If he's not reasonable when you're applying, he's probably not going to suddenly become reasonable after you move in.  Think of the application process as an interview - is this someone you want to be in business with?

Answer 8

You are always entitled to refuse to provide such information, but be prepared to be rejected if you do not provide same.  It is not illegal for landlords to ask for such information, as an indicator of how much money you have in reserve and how you maintain your accounts.

You should be easily able to provide such information without revealing your entire and full account numbers.  If you do online banking, only the last few digits of your account numbers will appear on your statement.  You can print this out for the prospective landlord.