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In this video, Stephen White discusses the essential information landlords should collect from tenant applicants. He emphasizes the importance of using the correct rental application, as different states have specific regulations; for instance, New York prohibits asking for a person's date of birth, while California recommends using the California Realtors Association application. Landlords can find appropriate applications on RentPrep.com. Key information to collect includes the applicant's name, date of birth, social security number, and current address. The video highlights the necessity of adhering to state rules while gathering this critical data.