Applicants: When to ask for bank accounts statements?

[Charley F.]

When should a landlord require to see bank statements of the applicants to see their financial stability?

I was recently advised that is common practice in the industry NOT to ask for personal bank accounts UNLESS the applicant has a low credit score. This in order to help the applicant while the landlord see if the person can meet their financial obligations.

I wonder if this is common practice, how can landlords avoid some risk? For example, what if the applicant has a good credit and a job but a low bank balance, and then, all of the sudden the tenant losses his/her job?