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In this video, Stephen White discusses the essential information landlords should collect from tenant applicants during the rental application process. He emphasizes the importance of using the correct application form based on state-specific regulations, citing New York's prohibition on asking for a date of birth and recommending the California Realtors Association application for California residents. Landlords can find appropriate applications through RentPrep.com’s free resources. Key information to gather from applicants includes their name, date of birth, social security number, and current address, highlighting the necessity of collecting accurate and relevant personal details.