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Letting agent requesting bank statements

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    #32
    Lemming
    Registered Users Posts: 14,148 ✭✭✭✭Lemming


    Grandpa Hassan wrote: »
    That will always be the standard in the UK. Heated market or not. There might be some tweaking of the agents fees in times of stiff competition, but the 6-8 week deposit, the bank, work and rental references, the inventory clerk fees are here to stay in the UK.

    the difference is that you get something for that. independent inventory clerks who take a photograohic record and give you a copy of their report, deposit protection etc (though you would never get your 6-8 week deposit back before having to put a 6-8 week deposit down on a new place).

    If you don't like it, then you just rent somewhere privately off the internet. But then you're in the wild west, and there's no point complaining....no comeback....if someone keeps your deposit

    I wish it was like that in ireland

    It should also be pointed out that in the UK (or at least my experience to date); it's not the landlord or EA that you are handing your financial details over to; it's a third party firm specializing in checks, from whom you will receive a full copy of their report. So the EA/Landlord never sees the intimate details; all they get is the same report you get with a "yay/nay, confirm xyz".


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    #33
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Lemming wrote: »
    It should also be pointed out that in the UK (or at least my experience to date); it's not the landlord or EA that you are handing your financial details over to; it's a third party firm specializing in checks, from whom you will receive a full copy of their report. So the EA/Landlord never sees the intimate details; all they get is the same report you get with a "yay/nay, confirm xyz".

    I don't think any landlord would have any issue using such a service if it existed. However, in its absence, you still don't have to give away sensitive financials - so long as you redact the bank statement.


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    #34
    Lemming
    Registered Users Posts: 14,148 ✭✭✭✭Lemming


    makeorbrake wrote: »
    I don't think any landlord would have any issue using such a service if it existed. However, in its absence, you still don't have to give away sensitive financials - so long as you redact the bank statement.

    Well such companies earn their crust on data, so they would (or should at any rate) be keeping an eye to data protection & retention laws; unlike some EA whose notion of data protection is chucking a newspaper on top of your details. Such companies aren't also in the position to dicate terms like an EA or landlord looking for some extra cash might do, making them a far more acceptable prospect for people to deal with regards their personal information.

    I'm just surprised that such a service does not exist in Ireland; but given how utterly grabastically, f*cktardedly backwards & dysfunctional the Irish housing market is I really shouldn't be surprised.


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    #35
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Lemming wrote: »
    Such companies aren't also in the position to dicate terms like an EA or landlord looking for some extra cash might do, making them a far more acceptable prospect for people to deal with regards their personal information.
    I'm not quite sure specifically what you are referring to here. However, it takes two to tango. If a potential tenant isn't happy with any aspect of the proposed tenancy, they should either say so, walk or both.


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    #36
    Fkall
    Registered Users Posts: 135 ✭✭Fkall


    Lemming wrote: »
    It should also be pointed out that in the UK (or at least my experience to date); it's not the landlord or EA that you are handing your financial details over to; it's a third party firm specializing in checks, from whom you will receive a full copy of their report. So the EA/Landlord never sees the intimate details; all they get is the same report you get with a "yay/nay, confirm xyz".

    No, the landlord receives copies of all information provided.

    After all the EA is his agent afterall


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    #37
    Lemming
    Registered Users Posts: 14,148 ✭✭✭✭Lemming


    makeorbrake wrote: »
    I'm not quite sure specifically what you are referring to here. However, it takes two to tango. If a potential tenant isn't happy with any aspect of the proposed tenancy, they should either say so, walk or both.

    My point is that such services are divorced from the landlord and EA other than being engaged to check that Joe Bloggs meets the minimum criteria they've been given. That means far less room for potential abuse of a tenant's information by cowboy LLs and/or EAs.
    Fkall wrote: »
    No, the landlord receives copies of all information provided.

    After all the EA is his agent afterall

    Are you saying that a third party service (in the UK) passes the entirety of what is personal data which they have asked the tenant over to another third party? Because what I've just said has nothing to do with the EA other than them engaging a data-verification/check service and informing you that you will be contacted by xyz regards such a service as requirement for signing a lease.


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    #38
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Lemming wrote: »
    My point is that such services are divorced from the landlord and EA other than being engaged to check that Joe Bloggs meets the minimum criteria they've been given. That means far less room for potential abuse of a tenant's information by cowboy LLs and/or EAs.
    There was no misunderstanding of your point. My point is - in the absence of such a service - redacting bank statements protects a prospective tenants financial data.


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    #39
    Fkall
    Registered Users Posts: 135 ✭✭Fkall


    Lemming wrote: »
    My point is that such services are divorced from the landlord and EA other than being engaged to check that Joe Bloggs meets the minimum criteria they've been given. That means far less room for potential abuse of a tenant's information by cowboy LLs and/or EAs.



    Are you saying that a third party service (in the UK) passes the entirety of what is personal data which they have asked the tenant over to another third party? Because what I've just said has nothing to do with the EA other than them engaging a data-verification/check service and informing you that you will be contacted by xyz regards such a service as requirement for signing a lease.
    The EA is the LL agent and not a third party. He collects the information on behalf of the LL.


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    #40
    Lemming
    Registered Users Posts: 14,148 ✭✭✭✭Lemming


    Fkall wrote: »
    The EA is the LL agent and not a third party. He collects the information on behalf of the LL.

    I don't think we're talking about the same thing here so I'm going to walk away from this particular discussion.


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    #41
    Victor
    Registered Users Posts: 78,348 ✭✭✭✭Victor


    nj78 wrote: »
    what exactly are they looking for?

    Your name.

    Your current address.

    That you have a bank account, for at least 3 months.

    That you run transactions through it.

    That you are solvent.

    That you can pay the rent.

    That you seem to have a job.

    What benefits you are receiving.

    Do you have a gambling / alcohol habit?


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