Does a landlord usually check banking account information?
saintsvalentine asked:
A realtor asked for my banking account information on a rental application for an apartment. Will they likely call the bank, and if so, what information are they looking for? How much i’ve got in the bank? THANKS
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on Monday, August 31st, 2009 at 12:00 am and is filed under Renting & Real Estate.
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A realtor asked for my banking account information on a rental application for an apartment. Will they likely call the bank, and if so, what information are they looking for? How much i’ve got in the bank? THANKS
August 31st, 2009 at 1:56 am
I do . . . but this is generally not customary . . . I allow tenants who have less than stellar credit to supply banking info instead of credit history. Generally, I want to make sure that they have the down payment (first & last & deposit) and have sufficient monthly deposits to cover the rent. If you are concerned, call the broker (the person who owns the real estate office generally speaking) and ask if this is customary. Most states have agent/broker info. online.
September 1st, 2009 at 10:38 am
If the property is a tax credit property (section 42) then yes they will ask for your banking information. With Section 42 they have to verify any and all income. This would include any interest you receive on any of your bank accounts.