A rental application is one of the most important tools a landlord has to screen potential tenants. A rental application helps a landlord verify identity, employment and income, and current and previous addresses.
In order to do these things, a rental application will ask for sensitive information like your Social Security number and bank account number. So how can you safeguard your bank account number on a rental application?
1. The first step is to make sure you are dealing with a legitimate landlord or property management company. You can do this by asking for references from current or past tenants, or by checking online reviews. If the landlord or property management company has a good reputation, they will be more likely to handle your personal information responsibly.
2. If you are still uneasy about giving out your bank account number, you can ask the landlord if they would be willing to accept a copy of your most recent bank statement instead. This will show them everything they need to know about your employment and income without requiring you to hand over your bank account number.
3. If the landlord insists on having your bank account number, consider opening up a new account specifically for this purpose. This way, if there is any fraud or identity theft, it will be isolated to that account and will not impact your primary banking relationship.
Conclusion:
A rental application is an important tool for landlords to screen potential tenants, but it also asks for sensitive information like your bank account number. There are steps you can take to safeguard your personal information, like making sure you are dealing with a legitimate landlord or property management company, or asking if the landlord would be willing to accept a copy of your most recent bank statement instead of your bank account number.
If you do have to give out your bank account number, consider opening up a new account specifically for this purpose so that any fraud or identity theft will be isolated to that account.
