She applied for several apartments, with a friend, in Lane Cove and Ryde – each rented out at $400 to $500 a week, which she said was manageable on their joint $3300 a fortnight income. They were both under 20 and looking for their first rental home.

But instead of just filling out the usual application form to prove she had a secure job and a steady stream of income, she claims several property managers demanded proof of extra finances. 

Although it is common to ask for a bank statement, Ankita and her friend were asked to prove they had at least $10,000 in savings each – the equivalent of a year’s worth of rent. She claims the property managers said this was because their combined incomes were not high enough.

“We finally gave up as no one was [accepting] our application,” Ms Mohan said.​ She has continued to rent in Wollongong, while attempting to save up to prove to the property managers she can afford to rent.

While tenants are given certain rights once they’ve signed a rental agreement, a lack of regulation around what landlords can demand of househunters during the application process is leaving them vulnerable, especially in a competitive Sydney market.

Tenants Union of NSW policy officer Ned Cutcher said there was an imbalance of bargaining power between tenants and landlords, and examples of onerous requirements for renters “crop up all the time”.

“The recurring themes are just the sheer magnitude of information that is required when applying for a tenancy and the often invasive nature of it,” Mr Cutcher said.

The only time a prospective tenant’s savings might become relevant is if their income is not sufficient to cover the rent, he said.

“In such cases, it would be up to the tenant to demonstrate how they propose to meet their commitments. Anyone who is asked by a landlord or real estate agent to disclose such information should be very wary.”

But in the tight Sydney market, there could be even more hoops to jump through for tenants as landlords have their pick of the rental pool, Don’t Rent Me founder Anthony Ziebell said. The Domain Rent Report for September found the harbour city’s rents remained at their highest levels and the vacancy rate for apartments was tightening.

Tenants have no other choice but to accept what the landlord asks of them because for every tenant who pushes back “there may be two more ready and able to sign the lease”. Mr Ziebell said.

But onerous requirements, such as being asked to provide extra rent or a larger bond, can be due to discrimination that prospective tenants are unaware of, University of Technology Sydney head of the School of Built Environment Heather MacDonald said.

“We have a victim complaint-based system, which is important to have … but it’s a massive underestimate of the differential treatment [of rental applicants],” Ms MacDonald said. 

“When there are 30 others applying [for the rental], why would they think it’s discrimination?”

While she thought the laws in place were acceptable, she said the Human Rights Commission or a similar entity should undertake regular testing of the rental market to ensure compliance to the anti-discrimination rules.

Fair Trading NSW requires landlords  to not discriminate, directly or indirectly, against tenants based on their race, sex, pregnancy, marital status, disability, homosexuality, age or transgender status. But provided a landlord isn’t discriminating on this basis, they can ask for any amount of information.

But outside of these rules, there is “very little legislation” covering rental applicants, Let’s Rent director Lisa Indge said. 

“It’s really up to the landlord or the property manager to decide what they need to see for proof of income,” she said.

Clare Kemble, of Century 21 Wentworth Real Estate Carnegie, said most landlords would be most interested in previous rental history, present income and stable employment or means of income.

While discrimination is a “big no no”, she said questions related to “income, past living arrangements, pets, number of residents at the property, reasons for leaving a past property, employment arrangements, and identification information is all OK”.

Inglis Property MacArthur senior property manager Fia Foglia said its standard practice was to ask to see bank statements to give “an idea of monies in and out weekly” as well as running a credit check, after the tenant has signed a privacy agreement.

But she warned some landlords put pressure on their agency to request things from tenants that weren’t legally allowed.

“Owners cannot ask for pets bond or more than four weeks’ bond and two weeks’ [rent] in advance, they cannot charge water or electricity unless houses are separately metered, they cannot charge water if they have forgotten to provide usage in the current quarter [and] they cannot ask over the advertised price unless the tenant offers in writing,” she said.