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In this video, Stephen White discusses essential information landlords should collect from tenant applicants. He emphasizes the importance of using the correct rental application as certain states have specific regulations; for instance, New York prohibits asking for a birthdate, while California prefers the use of the California Realtors Association application. Stephen advises that landlords can find suitable applications on RentPrep.com. Key information to collect includes the applicant's name, date of birth, social security number, and current address. Understanding these requirements ensures compliance with state laws and helps in the application process.