Info asked on the rental application.

[Charles Carey]

Hello, first time poster here with a question.I have been a flipper the past few years but with the market now I am going to try my hand at renting.
After looking at the rental applications here and other places it seems that most ask for bank account and credit card account numbers.Is this necessary if I plan on running a credit/background check on all my tenants?
I don't think I would want to give out that info to a stranger and feel funny about asking for it. Will the background/credit check be enough or should I ask for the account information ?

Thanks for the advice, Chip

[Silvio Brigliadoro]

Charles, a flipper, nice!

ALL the info in the application builds the character of the prospective tenant and will help you determine along with dozens more questions you should ask your applicant whether or not it is a match to YOU and YOUR property.

Tenant selection is the most important aspect of managing a rental. These individuals will be watching after your asset, would you hand it to just about anyone? If you ever need to collect rents or evict your tenants, you will need all the info you can.

If they dont have bank accounts, credit cards, car loans, etc. I WILL always ask why and analyse their answer, I do a lot of asking and REALLY listen; I am always amazed the value I get from that.

Good luck!