I have a new criteria for applications.

I normally ask for the completed application, copies of photo id, 3 months of income statements, 6 months of rental statements, and money for the credit check

I have always had a spot in the application that asks the tenant for checking and savings account balances. Sometimes they don't fill them out but I really want to know if they have the financial resources to maintain a single family home.

New application asks for bank statements showing current balance in checking and savings.

I require bank statements attached to application. Best way to verify much of the application information.

Good topic.

I've been on the fence about this for a while.

I want to know an applicant is financially stable, but...

I've just relied on credit reports & lack or presence of collections. But, that doesn't tell the whole story.

Jason & myob make a good point, but I wonder if it would seem more reasonable in a tight market where a nice rental is hard to get.

They already need to give me DOB, SS#, & other things that could be used to steal an identity.

It makes no difference if the applicant is trying to rent an "A", "B" or "C" grade property. I WANT and REQUEST them to complete the BANK information on the application form, and provide PROOF! I want to see how they are going to fund the move in costs, First and Security.

My last new tenant wrote in the checking box $2,000 and left savings open. Rent was going to be $1,250 per month with a deposit of another $1,250. So where is my applicant going to get $2,500 when they only have $2,00 in their checking account. She refused to provide any additional information because she was scared or giving out personal information.

So to ease her concerns, I provided "proof" that I was:

a) The owner of this property, not just a manager.

b) I was registered with the City Housing and Rent stabilization Board.

c) I provided a copy of my Certificate issues by the City to operate and collect rents for this property.

d) I allowed the applicant to ask any of my other tenants in this multi-unit property is I was a good landlord.

e) I provided documents that I was certified to run credit checks, I was in the business of RENTALS.

f) And last, I was Licensed, Bonded and Insured.

No other landlord ever provided any proof before, not even 1 sheet of paper. Now my applicant was in good spirts to provide me with anything I needed.

When I first started as a landlord in 1986, I used to require current bank balances, average annual bank balances, number of checks bounced over the past year. I didn't ask the tenant to provide that. Instead, like I'm sure many of you do, had them sign an authorization to obtain rental, employment and banking history information. SO telling! Less intrusive upon first glance, because they didn't know just what detailed information I was going to collect. Although it required a little more work on my part, for many years this worked very well. Then, although I had the authorization, the banks refused or stopped providing the information without calling the prospect.

Many times I tell prospects to google our company or look me up on linked in to see how long we've been in business,experience,etc. After reading Robt J's comments, I think it wise if I put together "proof of" paperwork tobuild trust from the get go.

I'm not sure my middle to lower income applicants can find a bank statement. Paystubs seem to be a challenge for many.

I'm trying to streamline the application process. My competition simply pulls a credit report for a yes or no. Done in seconds, on the spot.