Application fee? (by Ken [TX]) Nov 14, 2011 7:48 PM
Application fee? (by Blue [IL]) Nov 14, 2011 8:22 PM
Application fee? (by Virden [OH]) Nov 14, 2011 8:36 PM
Application fee? (by LL [AZ]) Nov 14, 2011 9:17 PM
Application fee? (by Robert J [CA]) Nov 14, 2011 9:31 PM
Application fee? (by LL [AZ]) Nov 14, 2011 9:50 PM
Application fee? (by Suzanne [TX]) Nov 14, 2011 11:40 PM
Application fee? (by Brad [IL]) Nov 15, 2011 4:20 AM
Application fee? (by Erin [FL]) Nov 15, 2011 6:18 AM
Application fee? (by Moshe [CA]) Nov 15, 2011 1:42 PM
Application fee? (by Gloria [TX]) Nov 15, 2011 7:03 PM
Application fee? (by Sharon [TX]) Nov 16, 2011 5:29 AM
Application fee? (by John... [MI]) Nov 16, 2011 7:46 AM
Application fee? (by Ken [TX]) Posted on: Nov 14, 2011 7:48 PM Message:
State Specific Question About: TEXAS (TX)
I've seen that many agents and some independents charge an application fee. I'm on the fence if I should. If it matters I'm about to put up a 3/2 for $1350/mo. Thanks --208.124.xx.xxx |
Application fee? (by Blue [IL]) Posted on: Nov 14, 2011 8:22 PM Message:
Before I charged an app fee, everybody and anybody would apply and I wasted a lot of time.
If you are on the fence, why not credit the fee back to them if they are accepted? --99.186.xx.xx |
Application fee? (by Virden [OH]) Posted on: Nov 14, 2011 8:36 PM Message:
Phone screening limits many time wasters but those who are serious and know they do not have evictions or felonies are happy to pay the 35bux fee we charge, holding fee converts to deposit once the lease is signed, pet fees are not returnable. --76.241.xxx.xx |
Application fee? (by LL [AZ]) Posted on: Nov 14, 2011 9:17 PM Message:
We officially (on the app) now charge a $45 app fee, up from $35. However in most cases it is waived. Mainly because the big REIT properties we compete with give free apps.
To reduce costs I have them pull their own free credit reports, which I explain also results in a soft hit that doesn't hurt their credit. I suppose someone could fake it, but they'd really have to work at it. And besides most of my tenants have a 200 credit score. --76.170.xxx.xxx |
Application fee? (by Robert J [CA]) Posted on: Nov 14, 2011 9:31 PM Message:
I make every occupant who's going to live in the property to complete an application. I also charge them my approx. cost, $15 per application. In my State credit codes, if we charge $20 or up to $30 per application, we are required to provide the applicant a copy of their credit report and must tell the credit service first. To avoid this and to make my process go more smothly, that's why I only charge $15. --173.58.xxx.xxx |
Application fee? (by LL [AZ]) Posted on: Nov 14, 2011 9:50 PM Message:
Robert (or maybe Moshe) could you clarify please. I thought that in CA you could charge $45 now. We can in AZ and I know in 2009 in CA you could charge $42.50.
I only have the one CA property which we haven't rented for awhile so I'm getting rusty - but I WAS going to use the same app for both states. Need to know if I need to change it.
Thanks. --76.170.xxx.xxx |
Application fee? (by Suzanne [TX]) Posted on: Nov 14, 2011 11:40 PM Message:
It depends on if your market will support it. In my market private landlords charge for credit and screening costs but not additional application fee. People don't want to put up money just to apply for a place they might not get. And there is too much competition to try to make them do so. --168.7.xxx.xxx |
Application fee? (by Brad [IL]) Posted on: Nov 15, 2011 4:20 AM Message:
An application fee does 2 things. 1) It covers the cost of running the credit/background check, 2) it eliminates "tire kickers" and people who know they won't pass. Also, if they can't afford $20-$30 for the fee, how can they afford the rent/deposit? --50.129.xx.xx |
Application fee? (by Erin [FL]) Posted on: Nov 15, 2011 6:18 AM Message:
If you don't charge an application fee, you will get everyong applying that don't even want to rent from you or know that they won't qualify. You will waste a lot of time and possibly money to run the background/credit checks on them, just to have them turn you down when it is time to sign lease. Always charge an application fee. I then sometimes verbally tell tenant that half or all of application fee will be credited to first month's rent if they qualify and sign lease.
If people aren't sure about applying because of the application fee, then they either are sure they really want to rent the place or they aren't sure they are going to pass the background check. You want the application fee to eliminate these people wasting your time. --72.189.xxx.xxx |
Application fee? (by Moshe [CA]) Posted on: Nov 15, 2011 1:42 PM Message:
CA civil codes says,
"In no case shall the amount of the application screening fee charged by the landlord or his or her agent be greater than thirty dollars ($30) per applicant. The thirty dollar ($30) application screening fee may be adjusted annually by the landlord or his or her agent commensurate with an increase in the Consumer Price Index, beginning on January 1, 1998."
--98.112.xxx.xxx |
Application fee? (by Gloria [TX]) Posted on: Nov 15, 2011 7:03 PM Message:
I charge a 35.00 non-refundable Application fee, It covers the cost to do the background /credit ck fee, the way I see it they shouldn't apply if they know theirs something that's going to keep them from being approved in the first place, waisted time. --70.245.xxx.xx |
Application fee? (by Sharon [TX]) Posted on: Nov 16, 2011 5:29 AM Message:
I charge a $30 per adult app fee, credited to first mo rent. At showing, my standard line is, "I do criminal, credit, and eviction checks, what do you have that might give me a red flag?"
The bad ones will deny they have anything bad, but will then screen themselves out, before they have to lose $30 a head. The so-so ones will tell me what black marks they have, and we can discuss whether it's a disqualifier before they put the money up. The good ones, will bring the money back with their applications back without a blink.
With this method, I have never had to take money from anyone that I didn't end up renting to(so far). Only had one that tried to bluff me, took him two wks to bring the money, and by then I knew he had a suspended DL, and a felony. I refused to take his money. --66.196.xx.xxx |
Application fee? (by John... [MI]) Posted on: Nov 16, 2011 7:46 AM Message:
I charge $15 -- and this is for 2BR units that are only $450/month. The main reason is that it helps weed out some that shouldn't even be applying because they can't come up with $15. :)
- John...
--216.111.xxx.xx |
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