Bank statement required for potential landlord?

[Martha13]

Is it customary to provide a bank statement to a potential "landlord" in a rental situation? (private homeowner, multiple partners, apparently). We are "in the running" for a nice home near ours, but as they are narrowing it down to the folks they'll choose to rent to, they seem to be asking for a lot more items. Today they requested an actual bank statement, and for some reason, it put me off. Mainly because I'm kind of a private person, and I really don't want somebody pouring over my personal stuff..they don't need to know every check I write, do they? Shouldn't they just be concerned with my bank balance? Maybe beggars can't be choosers, huh, and I should just hand it over?

[magyar123]

Never heard of a landlord asking for bank statements. Could be just a trick by them to get a hold of your account number so they can automatically deduct the monthly rent amount on the due date, and avoid having to make a trip to the bank depositing checks.

[Joe Farmer]

Does he want to see an account balance?

I can see that point. But to see your transactions? I'd RUN, not walk...

[Martha13]

THANK YOU guys so much ! I was really afraid I was being too sensitive about this. I think we've jumped through enough hoops for this rental--time to move on! This part of the process just creeps me out. I hate giving personal info to people we really don't know.

I had this one bizarre instance where I replied to an ad on Craigslist for an awesome looking home, with a decent payment. The reply I got was so strange that I didn't answer it--something about being out of the state and unable to show it, but I could mail my app, they would Fed Ex keys, contract, etc. yaaaaaahhhh riiiggghhhhttt...I thought the photos looked vaguely familiar, then did some searching on the site and found them associated with another LEGIT property mgmt company! These crooks had swiped the photos and were trying to pass the place off as theirs. Holy smokes. I had never heard of that before..but I guess it does happen these days...

[b_girl]

I'm a landlord and I don't require bank statements. It's an invasion and not necessary...don't do it!

[Joe Farmer]

Hey b girl-

What's your position on a tenant with a BK. What would you require, would you rent to a BK filer, etc? I'm just curious. My thought is that any landlord would be happy with 3-6 months prepaid rent from me after I file? If I were still a landlord I'd be THRILLED to have that kind of backup. Comments?

[gymbo]

I had this one bizarre instance where I replied to an ad on Craigslist for an awesome looking home, with a decent payment. The reply I got was so strange that I didn't answer it--something about being out of the state and unable to show it, but I could mail my app, they would Fed Ex keys, contract, etc. yaaaaaahhhh riiiggghhhhttt...I thought the photos looked vaguely familiar, then did some searching on the site and found them associated with another LEGIT property mgmt company! These crooks had swiped the photos and were trying to pass the place off as theirs. Holy smokes. I had never heard of that before..but I guess it does happen these days...

Something like this happened in my City too - some scammer took pictures off a realtor site and listed the home for rent ... said he was a "missionary" and would only require $2000 down to rent the place because "God has been good to him and he wants to pass on a favor". TOTAL SCAM. A prospective renter knocked on the door of the home and you can imagine their surprise when the REAL homeowner answered!

[b_girl]

Just speaking for myself, bankruptcy wouldn't be an issue, as long as the potential renter has the deposit, the first month's rent, and 2 months of paystubs to prove current income. Length of employment at his/her current job is also a real plus--it would show stability. Putting more money down would be all the better, but we've never had that happen.

[Help!]

Ok Martha, this is getting a little ridiculous. Your future landlords sound psychotic. If they're asking for such an enormous deposit and now prying into your finances, I think they're going to be a real headache if this isn't a scam and you actually end up renting this house.

I can just imagine someone stopping by to take a peek at my housekeeping... just at the moment my son has dropped his plate on the floor, my daughter has taken a sharpie to the walls and I didn't quite get my dog outside on time. I think the last thing you need right now (and especially during the stress that comes with BK) is some overbearing landlord looking over your shoulder. This deal is sounding worse and worse all the time!

[Martha13]

Help, thanks for making me LOL...seriously, I soooo needed that. We are really trying to be quite rational about this all...and your points are exactly what my hub and I have been talking about today--good grief, are they going to drive by and make sure all is well? I did email them and say no way on the bank statements, and they were a-ok with just a balance.. They are in a different city...but STILL..Oh, and I swear, if we do go thru with this, I swear, my old dog will totally become a full-time inside one...lord knows, we're gonna be paying for it. Ugh. I hate this. Big time. But your comments about the kids just cracked me up. THANKS !!

[JRScott]

Just like in hiring a lawyer if you have a bad feeling about your landlord it's best to look elsewhere

[b_girl]

+2. Renting from a bad landlord isn't worth the money or heartache...you might want to look elsewhere just to be safe.

[Martha13]

A little update on this for anyone who is interested! Thanks so much for the input, it really helped. I am feeling pretty good about the potential to rent from these people after all. Got a little more info--this is a brand new home, and eventually after a few years they plan to have family members move up here and live in it, so I think they're just really, really concerned about it staying nice (it is a lovely home.)

They understood completely about the bank statements, it was no big deal, and they've agreed to lower the amount of the pet deposit by $500. I can live with that. We have now had enough communication back/forth that I feel at ease with them, and that things are on the up and up. They have hired a property mgmt co to handle things, so I like that too. I'm taking the advice of asking if we can post-date the rental portion of the check until the date we get the keys from the prop mgr. If they are ok with that, then I think, gulp, we're going to do it. It does mean moving sooner, and it solidifies the fact that we are truly going to surrender the home--but it is time to accept that, move on, and get going with a 100% fresh start.

[JRScott]

I hope it all works out for you then

[Martha13]

Thanks, JRScott ! We also are now going to meet on the 13th to sign the contract, pay the deposit, etc, and he's going to give us the keys that day, even though the rental contract doesn't begin until the 15th, so that's even better I think most of my rental worries are behind me. Now I'm just gearing up for dealing with the neighbor's questions!