Worried about bank statment

Gone Drinking

Hi,

Im going to view an apartment on monday with my girlfriend, and i asked the company dealing with us what i needed to bring. They said i needed a couple of references (thats fine, work for my fathers company and the guy im renting off now is a friend) but they also asked for a bank statement.

My current statement won't look great, firstly, ive no savings.. and my incomings for the past few weeks have been pretty much emptied by wednesday of the next week.. some weeks even breaking into my overdraft. Im worried that when they see this, they'll say no straight off..

I'm 24, the rent we're paying at the moment is very small and to be honest, i've been stupid with my money for the past few years (something thats going to change). I'm certain that there'll be no problems paying rent on the apartment but i doubt they'll take my word for it.

Any advice?

ZYX

Gone Drinking wrote: »

Hi,

Im going to view an apartment on monday with my girlfriend, and i asked the company dealing with us what i needed to bring. They said i needed a couple of references (thats fine, work for my fathers company and the guy im renting off now is a friend) but they also asked for a bank statement.

My current statement won't look great, firstly, ive no savings.. and my incomings for the past few weeks have been pretty much emptied by wednesday of the next week.. some weeks even breaking into my overdraft. Im worried that when they see this, they'll say no straight off..

I'm 24, the rent we're paying at the moment is very small and to be honest, i've been stupid with my money for the past few years (something thats going to change). I'm certain that there'll be no problems paying rent on the apartment but i doubt they'll take my word for it.

Any advice?

Under no circumstances show your bank statement. It is none of their business.

seamus

A bank statement for a rental property? Sounds iffy tbh.

Ask them why they need the bank statement. If it's for identification purposes, then bring a utility bill instead.

The agency or the landlord have no right or need to go through your financial history. Whether you can afford the rent is an issue for yourself, not an issue for them. As far as they are concerned, they have a contract with you to pay X amount each month. Where and how you get that money, is not their concern.

Tbh, if they say it's because they want to make sure you can pay the rent, I would tell them where to go and report them to the data protection commissioner.

gixerfixer

Gone Drinking wrote: »

Hi,

Im going to view an apartment on monday with my girlfriend, and i asked the company dealing with us what i needed to bring. They said i needed a couple of references (thats fine, work for my fathers company and the guy im renting off now is a friend) but they also asked for a bank statement.

My current statement won't look great, firstly, ive no savings.. and my incomings for the past few weeks have been pretty much emptied by wednesday of the next week.. some weeks even breaking into my overdraft. Im worried that when they see this, they'll say no straight off..

I'm 24, the rent we're paying at the moment is very small and to be honest, i've been stupid with my money for the past few years (something thats going to change). I'm certain that there'll be no problems paying rent on the apartment but i doubt they'll take my word for it.

Any advice?

They want a bank statement? Who is the company your dealing with.

Gone Drinking

When i spoke to the woman on the phone she said bring a Reference from work, a reference from my last landlord and a bank reference.

I asked two people i work with what a bank reference was and they both said its a bank statement to make sure im earning a wage. Is a bank reference something different?

Thanks for your speedy replies!

*NOTE: She didn't ask for a bank statement, she asked for a bank reference, i thought the two were the same! I don't know if thats what she's asking for exactly, so i can't blame the company!*

seamus

Never heard of it tbh, but I haven't done much hunting in the rental market. I'd ring them again and ask them to clarify exactly what they're looking for and why.

gixerfixer

seamus wrote: »

A bank statement for a rental property? Sounds iffy tbh.

Ask them why they need the bank statement. If it's for identification purposes, then bring a utility bill instead.

The agency or the landlord have no right or need to go through your financial history. Whether you can afford the rent is an issue for yourself, not an issue for them. As far as they are concerned, they have a contract with you to pay X amount each month. Where and how you get that money, is not their concern.

Tbh, if they say it's because they want to make sure you can pay the rent, I would tell them where to go and report them to the data protection commissioner.

Took the words out of my mouth. Ask them why they require a bank statement. Sounds dodgy to me. Are they a well known agency?

Gone Drinking

They are a well known agency and i know a couple living in the same apartments. It's deffiently not a scam or anything.

I think ill just ring her and ask what exactly she wants from the bank. I don't mind showing a statement to say im getting a weekly wage.. im just worried they'll refuse because of the history of my account.

Gone Drinking

I rang my bank just now and told them the rental company are looking for a bank reference, the woman said they don't do references anymore and that all these rental companys know this but they constantly send people in asking for them..

She said all they'll do is write out "So and so is currently a bank account holder at such and such branch" on headed paper, and add my bank account number if i want. She said i could show them a bank statement but thats up to myself because its personal information.

I think ill just ask them to write out bank account holder thing for me, if they ask for anymore i'll question her reasons etc

Thanks for all your help folks.

Gone Drinking

Hi Folks,

I'm probably talking to myself at this stage, but just to clarify in case anyone else is in a similar situation and finds this thread!

I rang the data protection offices and they told me that the landlord/agency may be entitled to see my bank account balance but they think that a whole statement is excessive.. so they suggested that if they ask for a statement that i get one and black out everything apart from the balance figure.

So i'll play it out and see how it goes. Wish me luck

astrofool

Show them you have a laser/credit card (that matches ID of course)

BaconZombie

I've been asked for the same and I scanned a current bank statement and removed all the information that I though was irrelevant.
And what I hand then was a sheet with just my name visible and did not even leave the bank name on it.

EKRIUQ

Looking for a bank reference is standard practice for most letting agents,

It's just a letter with the bank letterhead and says

Mr x has an account with this bank since 2002 and has good standing with the bank

Signed

It's no big deal but I've heard of some banks charging €30 for the letter though. The same thing from a credit union would also suffice.

Its just another letter that the letting agent has to show to the landlord that their getting a good and decent tenant

Or if it's a Bank statement you want, all they want to see is cashflow, blank out the bottom were the balance is

(You haven't bad standing with the bank have you?)

Climate Expert

I've a better idea. Tell them to go jump and find another tenant.
They get a deposit, one months back rent, know where you work and your last landlord. That is more than enough.

jetski

They just being cheeky....

Duckjob

Climate Expert wrote: »

I've a better idea. Tell them to go jump and find another tenant.
They get a deposit, one months back rent, know where you work and your last landlord. That is more than enough.

+1

I'd just get a standard one line letter from the bank confirming that you're a customer of theirs since dd/mm/yyyy and leave it at that.

If they press for a statement, then unless you're desperate for the apartment I'd tell them straight up that the details of your bank account are none of their business and you won't be providing one. In a renters market, letting agencies are in no position to be indulging a God complex.

bugler

I rang the data protection offices and they told me that the landlord/agency may be entitled to see my bank account balance

Sounds like the DP office are a waste of air. Quelle surpris. How anyone can be 'entitled' to see your bank account balance I don't know. If this is the quality of the advice coming out of the Data Protection Commissioner's office I wish them a swift demise.

dodgyme

jetski wrote: »

They just being cheeky....

I was asked for a bank statement from a landlord in Harold X years ago when nearly every apartment was taken before you arrived. I even knew neighbours of the landlord when I got talking to him. next day etc I showed him the statements with certain info blanked out(I was desperate (my job involved travelling worldwide and I had no room for messin) and the place was not cheap however it was nice) Next He told me the place was gone but he had a smaller place but it wont be available til I was away and hence didnt suit.

I was very annoyed that I had to do this but pre-bacon the landlord were w*nkers and had it all wrapped up. I am still annoyed but sometimes with sh*tty circumstances you take it up the you know what.

Great to see some things havent changed :rolleyes:

bugler

I think we should all acknowledge that the OP was not asked for a bank statement.

jetski

and id say its going to keep changing..... the market is being flooded with places for rent that cant sell as well as the emigration issue

Board-in-work

Do not show them your bank statement. Why do they need to know your business?

Ask them if they are registered under the data protection act if they are storing your personal information. Do they have a privacy policy? Does anyone in the office have a criminal record! etc etc.....

If they push, show them a bank statement with everything except your name blacked out on the banks headed paper. They may need a copy of a bank statement to run a credit check on you - ask if this is what they are up to...

SkepticOne

Board-in-work wrote: »

Do not show them your bank statement. Why do they need to know your business?

Se bugler's post and the OP's earlier clarification. He was asked for a bank reference, not a bank statement.