Bank And Savings Account

Bank and Savings Account



Experts often say that a prospective tenant who does not have a checking account

is red flag, something that needs immediate action. He is probably a very high

risk tenant. There is a possibility that they could not obtain an account due to

improper identification, ilegal alien status or other account was closed by the

bank for bouncing too many checks. So, landlordsmust beware.



Assuming your prospective tenant has a bank account, try to check it out. What

you can do is cal the bank to confirm the funds and then ask for an account

rating. Most banks wil actualy indicate when the account was opened, the range

of their average balance, and then cross check if the check they have given you is

good. Never let them move in until you have obtained this information.



One thing to note here is that the existence of a bank account is an indication of

stability and responsibility. It is also an indication of where to proceed to levy

money in case the tenant gets evicted for defaulting on the rent. So if possible,

confirm the bank account information every month when the rent is paid. This

wil ensure that your records are always kept current and wil even flag a possible

adjustment in responsible parties.