I think this is weird - I am looking for apartments in California, and they are asking for my bank account numbers, as well as asking for the checking & savings account balances. One application even asked for credit card #s and their balances!
Is this legal? If anyone knows for sure and has a link to the information, I'd really appreciate it.
2006-09-06 14:08:04 · 16 answers · asked by Camarogirl67 2 in Business & Finance ➔ Renting & Real Estate
If someone knows it's not legal, if you would refer me to your source I would appreciate it. Thanks.
2006-09-06 14:14:19 · update #1
And how could they verify the balances, even if they wanted to? Every bank makes you verify your identity, usually with a mother's maiden name or city of birth.
2006-09-06 14:15:10 · update #2
I think they ask for bank account numbers so that they can attach your account in the case of eviction.
2006-09-06 14:16:12 · update #3
In reference to one of the answers: signing on the bottom line of any form doesn't make anything legal - most liability waivers are completely bogus and just fool the unsavvy folks. It's one of the first things you learn in law school.
2006-09-06 16:00:43 · update #4
The only purposes are to see that you have a "positive" cash flow. THEY CANNOT just 'take money' either from your CC's or your bank account. If you want, fill it out with just x's, except for the last 4 digits.
Normally on an apartment they dont verify any of the accounts. A loan, though, they use the application for totals but they ask for bank statements to show your positive balance-- like a small cushion that always stays in your account, that could cover rent in case of emergency.
Its totally normal and they're not trying to rip you off.
pS--- this is not a scam, its simply to verify that you can afford the rent without extending yourself too much. Its a little much- most apartments use a simple formula of your income must be three times your rent, but this apartment is going a little further-- and some do. Again, just use the last 4 of your acounts number if you're nervous. If they refuse it based on that, go somewhere else-- you're being reasonable.
2006-09-06 14:32:38 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Application For Bank Account
2016-12-10 19:25:53 · answer #2 · answered by ? 4 · 1⤊ 0⤋
As long as you sign on the dotted line at the end of the application it is perfectly legal. This sounds like a very standard as in online ordering rental application. I have been in property management for a very long time and although I have seen and even used these type of applications I have never actually called any banking institution to validate the information provided unless at some point I have rented to them and they owe me money I will then refer back to this information for garnishment purposes. The requesting of credit cards is most likely to determine your debt ratio and how that would calculate into your rent payment. If in doubt just write in your banking institution name and leave the rest blank, but you do realize of course that when they run your credit all your credit card and banking info will more than likely show up regardless. If you are really concerned talk to the property manager and I am sure that can explain further.
2006-09-06 15:39:56 · answer #3 · answered by cptv8ing 3 · 1⤊ 0⤋
Actual I would only give them a credit card number if using it for the rental. Same with the bank account. Most Landlords would understand about Identify theft nowadays. California does have some privacy laws you might want to check into. You need to find an apartment that does not do this. If you don't have an account. Just leave it blank.
2006-09-10 04:19:29 · answer #4 · answered by webworm90 4 · 1⤊ 0⤋
Answer the questions about the bank accounts - the landlord wants to verify that you have money to cover security deposit and the like.
As for the credit cards, I wouldn't answer them. Your landlord will run a credit check and see for himself your cards and your balances. He doesn't need the full account number, but you could give him the last 4 numbers as a courtesy.
2006-09-06 14:14:13 · answer #5 · answered by Anonymous · 1⤊ 0⤋
I don't know if it's legal or not but just put you have a zero balance. That's what I did which wasn't quite true.
2006-09-06 14:14:44 · answer #6 · answered by escapegrl1 3 · 0⤊ 0⤋
If you are silly enough to give that info - Hope you enjoy living in a car and trying to get your identity back.
Ask for their personnels personal info before giving yours.
You will have no control over who sees this info.
2006-09-06 14:27:15 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It IS legal, especially if it is government controlled housing. (Not just low income housing)
I have lived in a few apartments in my time, it helps establish whether they feel you can afford their rent. Usually, in order to determine this, rent is about 1/3 of your income.
2006-09-06 14:19:32 · answer #8 · answered by Gothic Martha™ 6 · 0⤊ 0⤋
If they are asking for any account or CC numbers, it is a scam and not only should you not rent from these people, but you should report them to the BBB.
2006-09-06 14:14:07 · answer #9 · answered by Soda Popinski 6 · 1⤊ 0⤋
It is completely ethical, and they need you to tell them. They can call the bank and verify you are telling the truth, but not ask "how much is in the account".
2016-03-17 09:30:11 · answer #10 · answered by Anonymous · 0⤊ 0⤋