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Stephen White discusses essential information landlords need to collect from tenant applicants during the rental application process. He emphasizes the importance of using the correct application based on state-specific rules. For instance, in New York, landlords cannot ask for an applicant's date of birth, while California prefers the California Realtors Association application. Landlords can find resources on RentPrep.com. Key information to collect includes the applicant's name, date of birth, social security number, and current address. White highlights the significance of obtaining a social security number as part of the application process.