I am ridiculous
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
I am ridiculous (by razorback_tim [AR]) Jan 12, 2018 6:20 AM
       I am ridiculous (by David [MI]) Jan 12, 2018 6:23 AM
       I am ridiculous (by John... [MI]) Jan 12, 2018 6:32 AM
       I am ridiculous (by WMH [NC]) Jan 12, 2018 6:42 AM
       I am ridiculous (by Frank [NJ]) Jan 12, 2018 6:51 AM
       I am ridiculous (by Gail K [GA]) Jan 12, 2018 7:11 AM
       I am ridiculous (by Robert J [CA]) Jan 12, 2018 7:26 AM
       I am ridiculous (by OPM [OR]) Jan 12, 2018 7:44 AM
       I am ridiculous (by AllyM [NJ]) Jan 12, 2018 7:44 AM
       I am ridiculous (by plenty [MO]) Jan 12, 2018 7:48 AM
       I am ridiculous (by S i d [MO]) Jan 12, 2018 7:52 AM
       I am ridiculous (by CJ [MO]) Jan 12, 2018 8:16 AM
       I am ridiculous (by NC INVVESTOR [NC]) Jan 12, 2018 9:05 AM
       I am ridiculous (by Barb [MO]) Jan 12, 2018 10:21 AM
       I am ridiculous (by razorback_tim [AR]) Jan 12, 2018 10:34 AM
       I am ridiculous (by Oregon Woodsmoke [ID]) Jan 12, 2018 11:26 AM
       I am ridiculous (by Vee [OH]) Jan 12, 2018 12:19 PM
       I am ridiculous (by Lynda [TX]) Jan 12, 2018 2:45 PM
       I am ridiculous (by melinda [MD]) Jan 12, 2018 5:44 PM
       I am ridiculous (by BRAD 20,000 [IN]) Jan 12, 2018 10:28 PM
       I am ridiculous (by LisaFL [FL]) Jan 13, 2018 5:25 AM
       I am ridiculous (by MC [PA]) Jan 14, 2018 3:56 AM
       I am ridiculous (by mike [CA]) Jan 15, 2018 6:51 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

I am ridiculous (by razorback_tim [AR]) Posted on: Jan 12, 2018 6:20 AM
Message:

i got a kick out of this. I received this response from a prospect when I provided her information about viewing and applying for a unit:

ďNever mind, I donít want to spend a $60 gamble on an application fee. Trying to find a private party that doesnít make us do these ridiculous applications with ridiculous fees.Ē

Hmmm.... wonder what her background and credit check would look like.... --166.137.xxx.xx




I am ridiculous (by David [MI]) Posted on: Jan 12, 2018 6:23 AM
Message:

I always get a kick out of replying that the fee will apply towards their move-in costs --12.156.xxx.xx




I am ridiculous (by John... [MI]) Posted on: Jan 12, 2018 6:32 AM
Message:

To be fair, I'd get that same response around here. My fee is $15 and it covers the credit check (through this site). If I tried to get $60 in my area, I'd get zero applicants.

I can see somewhere in the middle depending on the area -- but $60 does seem high to me. What are your costs for the checks that you're doing? Does it really cost you $60 to get what you need? (Just curious -- not saying you're wrong or anything! This varies greatly by state and area.)

- John...

--24.180.xxx.xxx




I am ridiculous (by WMH [NC]) Posted on: Jan 12, 2018 6:42 AM
Message:

I have my applicants pay for their own background and credit checks, and then I deduct that from first month's rent if they are accepted.

People who already know they won't pass don't apply. --50.82.xxx.xx




I am ridiculous (by Frank [NJ]) Posted on: Jan 12, 2018 6:51 AM
Message:

We have gotten that response a few times...after being advised that gets returned if approved. We are somewhat taken aback. But quickly realize that it is just a tool doing it's job. --70.208.xx.xxx




I am ridiculous (by Gail K [GA]) Posted on: Jan 12, 2018 7:11 AM
Message:

You know the credit report is likely going to be bad when tenants have difficulty coming up with the $30 ($15 for each adult) to pay for this. Had a couple have to "go to the bank" to get this money. They likely meant the local Kroger (literally) around the corner. They were gone for 45 minutes.

I do tell people if they know their credit is going to be bad (lots of collections, a history of evictions) to just save their money and don't bother filling out an application.

Gail --71.203.xx.xx




I am ridiculous (by Robert J [CA]) Posted on: Jan 12, 2018 7:26 AM
Message:

I charge $20 a head and spend around $26, a loss of six bucks. So I'm the one taking a gamble. I get full reports, not just credit but eviction, criminal, Telecheck, Social Security Trace and more.

Once in a while people who think the have bad credit and won't reach a 680 FICO score and discouraged from turning an application unless they have:

a) a solid job with extra income

b) real money in the bank

c) little debt

--47.156.xx.xx




I am ridiculous (by OPM [OR]) Posted on: Jan 12, 2018 7:44 AM
Message:

Ok so far Oregon is the 'odd man out'

They have always allowed a fee to apply and it's governed by statute...

The companies/bureaus charge on a sliding scale, more detail more cost..

Oregon also gives control to the tenant for the property.. so there is the biggest risk..

3000,000 property and a 3000 depoist you bet I want details --162.247.xx.xx




I am ridiculous (by AllyM [NJ]) Posted on: Jan 12, 2018 7:44 AM
Message:

I don't have a fee. Doing the credit check is my cost of doing business. If I were looking at four or five places to move into I would not want to be paying everyone sixty bucks just to fill out an application. I can see their point clearly. I talk to people awhile before they get an application so I am doing maybe one only or two credit checks. This last time I did three because people who looked good due to employment had other problems such as drunk driving convictions, too many pets and smokers. The young unexperienced folks had the best credit and no baggage. --73.33.xxx.xxx




I am ridiculous (by plenty [MO]) Posted on: Jan 12, 2018 7:48 AM
Message:

She seemed to think so. Seems like you are normal to me. Perspective perhaps. She saved the money but may have lost an opportunity. --66.87.xx.xx




I am ridiculous (by S i d [MO]) Posted on: Jan 12, 2018 7:52 AM
Message:

$20 per applicant. I LOSE money on applicants: the $20 drives away tire kickers.

The key phrase is "gamble on an application fee".... right there you know she her references are most likely bad.

--173.19.xx.xxx




I am ridiculous (by CJ [MO]) Posted on: Jan 12, 2018 8:16 AM
Message:

I raised application fee from $25 to $35 to avoid not so serious or unqualified prospects. --97.91.xxx.xxx




I am ridiculous (by NC INVVESTOR [NC]) Posted on: Jan 12, 2018 9:05 AM
Message:

We charge $50/applicant and every person over 18, applicant or occupant, must complete an application. Our fees are on par with the market except for multi family that range between $100-150.

The application fee includes OOP costs but it also covers time. Besides the regular reports we do rental verifications as far as 7 years back and in many instances that is several LL's. We also have to complete the Fair Credit letter both accepted rejected applicants along with a copy of the reports.

And these fees do not include the cost of income verification since most of the larger employers in this area only provide electronic verification which costs $30-50 (applicants expense).

It is time consuming and time is money. --71.75.xx.xx




I am ridiculous (by Barb [MO]) Posted on: Jan 12, 2018 10:21 AM
Message:

The big management agency in my town charges $75 per adult now.

My $50 seems a bargin in compared to them. --172.58.xx.xxx




I am ridiculous (by razorback_tim [AR]) Posted on: Jan 12, 2018 10:34 AM
Message:

Sounds like my app fee is possibly above median among the board but far from high. My app fee is $30 per adult. I pay $24.95 for credit, eviction, and criminal report through this site. Iím not looking for applications or the app fee from everyone who looks at it. I only need one qualified applicant per vacancy. For the most part, people know whether they will qualify or not and if they will itís not a gamble. --166.137.xxx.xx




I am ridiculous (by Oregon Woodsmoke [ID]) Posted on: Jan 12, 2018 11:26 AM
Message:

Those who don't want to pay the fee know there is a good chance they won't be accepted.

In Oregon, I had to give the applicant a copy of my written criteria, which discouraged a bunch of optimistic losers, but I'd still get 30-40 applicants. There is no way I could do screening without the applicant paying the fee. I'd have 150 people interested and 120 of them would decide to not apply after they heard my criteria. But if they weren't going to lose an application fee, they would all give it a try.

So far, Idaho has been different. Not so many losers, not so many liars, fewer applicants and people who won't qualify don't apply. Still, the application fee is a step in the screening process. --174.216.x.xxx




I am ridiculous (by Vee [OH]) Posted on: Jan 12, 2018 12:19 PM
Message:

I charge 40 - costs me 3995, and most of the big places are at 65 now, they dont have driveway oil leaks, laundry drying in trees or lawn parking. --76.188.xxx.xx




I am ridiculous (by Lynda [TX]) Posted on: Jan 12, 2018 2:45 PM
Message:

I never have this problem because I never charge for the application--or--require an app first before showing the unit. To everyone who responds to my advertising,I send a list of times the unit will be shown. My timings are varied (a weekday morn, a workday night, a weekend day(Sat or Sun). That way everyone's schedule has a convenient time. At the house, my apps are free and pens are avail. By the time I get filled-in apps, the applicants have seen the house and I have seen them(which is just imp).

Many don't have the full name and ph# of the former LL with them,and that's OK. I let them take the app home to fill out fully. Yes, most don't come back and that's OK. The serious ones have the necessary info and fill the app right there if they are really interested. Shows me they are competent, organized, and serious about applying. I will take a check($25) for the background screening that costs me $30 but I eat it. That check gives me corroboration of their name, and bank info for further due diligence.

By the time my showings are finished I usually have 2 good apps from people who:

- understood directions, dates, and times of the showings

- came prepared to fill out apps with the correct info

- have bank accts with money in them (I check before depositing)

- and I have looked them over, spoken to them, looked at their vehicle--all before the credit check is done. --108.87.xx.xxx




I am ridiculous (by melinda [MD]) Posted on: Jan 12, 2018 5:44 PM
Message:

Showed townhouse to couple on Monday. Planned to do application today, since today is payday. Application fee is $25 per adult. She tells me today that they do not have the $50 but would like to do the application anyway so that nobody else gets the place. NOOOOOO. She says that payroll messed up her check. (have heard that before). Wants to do application Next Friday. Beginning to think this couple may not be the best tenant. I like to think of the app fee as a qualifier. --24.233.xxx.xx




I am ridiculous (by BRAD 20,000 [IN]) Posted on: Jan 12, 2018 10:28 PM
Message:

I'm cheap. I don't know that I would pay any app fee.

Ours are free because I wants LOTS flowing in. We do a lot of cross selling (they apply for one home but we talk to them about the lower priced home they CAN afford.)

Takes MOMENTS to preview an app. Most die in the first few minutes.

BRAD

--68.51.xx.xxx




I am ridiculous (by LisaFL [FL]) Posted on: Jan 13, 2018 5:25 AM
Message:

When I used to cover the cost of screening I spent a lot on applicants who were not approved.

When I charged $20 and covered the rest I still got losers.

Once I started charging exactly what I was charged, $40 per person, or $50 per married couple (my cost), I almost always approved the applicant.

I explain exactly what will and will not be approved so if they think they won't be they might not want to waste their money. Now some still pay who lie profusely but it has cut way down on that.

The applicant who balked at the $60 application fee simply knows they won't be approved. They did you a favor by not wasting your time any further. --75.89.xx.xxx




I am ridiculous (by MC [PA]) Posted on: Jan 14, 2018 3:56 AM
Message:

$25 per adult. My time and costs doing the checks. Sometimes,if you tell me upfront what is on there,I can work with you. Do not lie or play it down. We now tell people, it depends on what it says. "Some things in collections" can vary widely. --73.230.xx.xx




I am ridiculous (by mike [CA]) Posted on: Jan 15, 2018 6:51 PM
Message:

all are required to deliver an app when viewing the place inside. they get it in their email and are told to fill it out legibly. they are required to drive by and i have an interview with them prior to a site visit. if they get past the interview, most don't, they are expected to have cash at the showing. no checks. credit reports cost me $7.50 i charge $22.50. the extra $15 gets me 1 burger and 1 beer for my effort. if there are more than one grown adults...then we add bacon to the burger and have a second beer...and have a little walking around money --76.176.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: I am ridiculous
Your Name:
Your State:

Message:
I am ridiculous
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: