“Do agents have the right to ask for bank statements during the application process?”
The tenancy application process is key to securing your new rental, so we asked Training and Development Manager at Professionals, Jenni Wood for an answer to this question:
Jenni said it would be rare for this to occur, but exceptions could apply.
“If there was a tenant application and the applicant did not have employment and were new to the country, then the agent may be put in a position that they need to verify that the applicant has the capacity to pay the rent,” she said.
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Agents may ask you for bank statements for a few reasons. They need to verify that the payments you receive go into a bank account that’s in your name. Agents are governed by the Privacy Act 2000, which means they’re only allowed to use your bank statements for this purpose. All your details will be treated as confidential.