Why does real estate agent ask for bank and investment statements?

I am trying to lease an apartment in nyc and the real estate agent is asking for my investment and banking statements. I dont really use my bank so the statement is pretty much empty. 

8 Answers

  • 2 months ago

    I can understand banking information to verify your income, but to ask for copies of your investment portfolio seems a bit off to me. Because you could cash in your investments at any moment  so they are basically irrelevant to your earned income to pay a monthly lease.

  • 2 months ago

    Because it is his job to "qualify" you.

  • G R
    Lv 7
    2 months ago

    sounds like a scammer

  • 2 months ago

    To show you can pay the rent of course.

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 2 months ago

    To verify your assets to back up your income.  To verify from deposits of the income you claim you have that will pay the rent.  If you work and have income, the money is being deposited somewhere. They need to see it. 

  • Bill
    Lv 6
    2 months ago

    How do you plan on paying rent if you don’t bank?

  • Anonymous
    2 months ago

    They don't want to waste their time showing you units if you do not have the income or assets to qualify.

  • 2 months ago

    They want to make sure you have the means (money) TO PAY RENT.

Still have questions? Get answers by asking now.