Bank account & credit card info on rental applications?

[Izabella W.]

I'm a new landlord and have been looking for a rental application and most if not all of the apps I found online ask for bank account numbers and credit card numbers. Is it me or is this really a little too much information to share with other people? I would run, not walk, if I was looking for an apartment and had to fill that out.  I understand how balances and minimum payments may affect the ability to pay rent but what does providing account numbers do for the landlord?  I simply crossed that entire section out for my prospective tenants but wanted to check with you if there is any merit in asking for it.  With social security numbers, addresses, names, and all of the other info supplied (I also don't ask for dates of birth), we are just asking for identity theft.  Thoughts? 

[Jenifer Kynor]

Hi Izabella, 

My company provides online applications for independent landlords and we do require credit card information for the sole purpose of the tenant paying an application fee. When they fill out the application, they pay for the screening report to be run on themselves. That way the landlords can quickly have all of the information they need to make a decision on that particular applicant. Their personal information (credit card and social security number) is not shared with the landlord. This protects both sides through the application process. I'm sure that may be what you are seeing. 

This is precisely why I believe online applications are a much safer alternative to paper applications. If you were to require a paper application, all of this sensitive information is in your hands where it can get lost of stolen. We've seen lots of tenants fear this and move towards preferring online applications. As long as your online application is coming from a safe and reputable company, you have nothing to fear. 

Does this answer your question? Please reach out if there is anything I can do!

Jenifer