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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 example, in New York, landlords cannot request applicants' dates of birth, while California prefers the California Realtors Association application. 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. White stresses the significance of gathering accurate information while adhering to legal guidelines.