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In this video, 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 form, as specific states have unique regulations, such as New York, which prohibits asking for a date of birth, and California, which prefers the California Realtors Association application. Resources for applications are available on RentPrep.com. Key information to gather includes the applicant's name, date of birth, social security number, and current address, as these details are foundational for processing applications.