sarcasticgirl
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Joined: Jan 4, 2011 14:39:51 GMT -5
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Location: Chicago
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Post by sarcasticgirl on May 13, 2011 11:08:49 GMT -5
DH and I are moving from the city to the suburbs of Chicago and are renting for a few more years (since we're still in the business of saving, paying off some debt and considering relocating across the country in a couple of years). I've got a rental application in my hands and I have a question. This application asks all the standard stuff, employment history, rental history, delinquencies, etc. but also asks for a banking reference (account number and balance) which I've never had asked before, is that normal for rentals? also, it asks for personal references. I'm not really sure what kind of information they're trying to get at here with the references... who should a list? a relative? a friend? a boss or coworker? I don't even know what they would ask a reference that would be pertinent to my rental status.
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tskeeter
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Post by tskeeter on May 13, 2011 11:19:08 GMT -5
sarcastic, if you've got money in the bank, you probably manage your finances better than someone who doesn't have money in the bank. You're more likely to be able to pay your rent on time and in full every month, even if a minor financial hiccup occurs. If you stiff us for the rent, we have bank information, which may make it easier to attach your bank accounts. If you give us the names of your friends or family, it will be easier to track you down if we have to turn your account over to a collection agency. Also, since you don't want your parents or friends to find out you're a deadbeat, you'll probably make more effort to make sure you pay the rent.
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bean29
Senior Associate
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Post by bean29 on May 13, 2011 11:25:48 GMT -5
As to the banking refrence, it is on my application form. If you leave it blank (I) will not push it. I have two long term tenants. I know what bank one uses b/c they write me a check every month. The other family gives us a money order every month. No problems with collecting form either one.
As to the refrences, I don't know. I would like to contact old landlords (not current). I think T-Skeeter's got it. It is probably more for if you skip owing the landlord $$ or possibly if you are allowed to have pets...someone to contact if say you end up in the hospital and your pet needs care (our pet agreement asks specifically for this).
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sarcasticgirl
Junior Associate
Joined: Jan 4, 2011 14:39:51 GMT -5
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Location: Chicago
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Post by sarcasticgirl on May 13, 2011 11:37:00 GMT -5
It didn't even occur to me that they'd want someone to contact if we skipped out, since that's not something we'd ever do.
I really don't like the idea of putting my bank account number on an application. I can list who we keep our savings with and how much we have there now... but my account number? I'm just not comfortable with that! I'd understand if we were trying to by the house and the lender wanted to check our savings... but we're simply applying to rent a townhome.
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Pants
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Post by Pants on May 13, 2011 11:40:16 GMT -5
Sarcasticgirl - you're prob writing a check for the application fee/credit check anyway, right? That means they will already have it...
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sarcasticgirl
Junior Associate
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Location: Chicago
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Post by sarcasticgirl on May 13, 2011 11:45:31 GMT -5
Bschool, actually no... we sign up through e-renter.com and pay the credit check fee online with our cc.
I have no problem with the landlord having our account number (on our checks) when we make a payment. I just don't want to dish out an account number on an application. And the account we would pay with doesn't carry a big balance. it's our household account that we merely put in what we need for the month and the balance changes daily. I assume they're more interested in what we've got sitting in savings as far as balances go.
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Deleted
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Post by Deleted on May 13, 2011 12:35:59 GMT -5
Since I just went thru the application process maybe I can help.
The complex we are moving to asked for the first page of our latest bank statements and we could black out the account number if we want to. I believe it just give them a snapshot on how your handle money.
As for references, before we started the application process we asked our references if they were ok with being used as a reference. - we used my wife boss and HR person. I used my boss and my best friend that used to be my boss.
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bean29
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Post by bean29 on May 13, 2011 14:58:33 GMT -5
caiwau thanks for the info on your experience I never thought of asking for 1st page of bank stmt. It probably is a pretty good indication if your income is fiction and if you have a habit of writing bad checks (neg balance).
sarcasticgirl, I would discuss your concerns with the landlord. The rental forms we use we purchased as part of a landlording forms package. Just becasue they request the info does not mean they feel they would not rent to you if you balk at providing the info. I agee giving the account # is a little much...that's why I have never demanded prospective tenants provide that info.
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Deleted
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Post by Deleted on May 13, 2011 15:15:41 GMT -5
caiwau thanks for the info on your experience I never thought of asking for 1st page of bank stmt. It probably is a pretty good indication if your income is fiction and if you have a habit of writing bad checks (neg balance). . Yes because on the first page you have: Beginning balance Deposits Withdrawals Ending balance Contrary to the OP they only asked us for the first page, I would have not provided it if they requested the whole statement since I feel that is a bit going to far (how and on what I choose to spend my money is none of their concern)
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sarcasticgirl
Junior Associate
Joined: Jan 4, 2011 14:39:51 GMT -5
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Location: Chicago
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Post by sarcasticgirl on May 13, 2011 15:23:39 GMT -5
caiwau thanks for the info on your experience I never thought of asking for 1st page of bank stmt. It probably is a pretty good indication if your income is fiction and if you have a habit of writing bad checks (neg balance). . Yes because on the first page you have: Beginning balance Deposits Withdrawals Ending balance Contrary to the OP they only asked us for the first page, I would have not provided it if they requested the whole statement since I feel that is a bit going to far (how and on what I choose to spend my money is none of their concern) out of curiousity, did you provide the first page of all your accounts? I mean, in our case... DH and I have a percentage deposited into a joint account, a percentage deposited into savings, and the rest into our individual accounts. it takes all three to get the full picture.
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Deleted
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Post by Deleted on May 13, 2011 16:40:02 GMT -5
Yes because on the first page you have: Beginning balance Deposits Withdrawalsj Ending balance Contrary to the OP they only asked us for the first page, I would have not provided it if they requested the whole statement since I feel that is a bit going to far (how and on what I choose to spend my money is none of their concern) out of curiousity, did you provide the first page of all your accounts? I mean, in our case... DH and I have a percentage deposited into a joint account, a percentage deposited into savings, and the rest into our individual accounts. it takes all three to get the full picture. Yes and we also provided with our 2 most recent paystubs so they saw exactly what was our gross and net. They didn't ask you to provide paystubs?
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TheOtherMe
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Post by TheOtherMe on May 13, 2011 20:24:57 GMT -5
I lived in two large apartment complexes. While both applications requested the normal stuff as you call it, they both asked for references. Neither asked for your bank account number, but it was on the check I gave them for the application.
I would not give them my bank account number or any pages of my bank statement if asked. They are running a credit check. That is enough.
I do know that we had a major cold snap (weather below zero) and somebody had skipped. They lived on the 3rd floor and the pipes froze. It was so bad that the water in the toilets was ice. When it warmed up, the two apartments beneath them got flooded. The women in the office told me they would be contacting their references to see if they could contact them. They also said they would be making every effort to find them so they could take them to small claims court for the damages.
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