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No the application fee is not primarily to pay the credit report. The application fee is to pay for the screening and screening an application consists of a heck of a lot more than running a credit report. Many landlords run a credit check as part of their screening, but it is not a requirement
We will just have to agree on disagreeing on this one.
I have been told that - in my state at least - landlords are supposed to process each application sequentially, not in batch.
That is, if you are the first to apply (or your submitted application is the only application unprocessed), your application is to be processed and judged on its merits, and not in comparison with any other application. -
Are you actually running credit reports on all 10 of those apps and if so, why would you?
I keep running a report till I find one I will rent to if that is the first or the 100th. I tell everyone the only thing that you will be denied for 100% is lying.
I have been told that - in my state at least - landlords are supposed to process each application sequentially, not in batch.
That is, if you are the first to apply (or your submitted application is the only application unprocessed), your application is to be processed and judged on its merits, and not in comparison with any other application. -
That is how we do it. First application submitted, first served and down the line until we find the first one that meets all qualifications hence the reason we don't end up running/ordering that many credit reports. Some applicants don't pass the qualifications on application and/or court records so we move onto the next without having to even run a credit report.
Last edited by Corn-fused; 06-28-2015 at 09:58 PM..
The rental market is hot here and it's not uncommon to have fifty apps for one unit. I doubt they run all fifty background/credit checks. They vet the apps first and then go from there. But, yeah, you can make some change on those apps. The average fee around here is $75. My landlord's ad said $100, but didn't charge us one based on the info on the app. She uses it to weed out people..not many people are going to pay $100 per adult app fee.
Unfortunately, a lot of hopeful tenants seem to have comprehension problems. You can put it in the ad, you can show them your written criteria, you can tell them that you don't accept whatever, and they will still insist upon applying.
Like the group of five who were all standing in the driveway and smoking when I arrived to show the house. The ad says no smoking, the written criteria, which they were given, says no smoking, the application form says no smoking, and I told them several times that the owner of the house would not accept a smoker.
They insisted upon applying because they were sure it would be OK. They all dropped cigarette butts onto my driveway. I figure the $125 they gave me was a stupid tax. When I told them their application was denied, they asked why. I replied that no smoking was allowed and they said "oh."
I've got an ad running right now that clearly says the tenant must do A and B. I tell them that on the phone. They ask what A involves because they don't know how to do it, say they don't have B and then want to make an appointment to see the house and fill out an application.
They show up and I tell them that the tenant must have A and B and they tell me that they don't and they still apply.
I don't know how much clearer that I can be than to say they don't meet the requirements, but they are absolutely certain that I don't know what I am talking about.
I understand and agree with your post and we have no difficulty with denial of tenants and them losing their money after we explained what we screen on and what will be a denial and denying them due to lying.
We call it payment for insulting our intelligence and time.
That is how we do it. First application submitted, first served and down the line until we find the first one that meets all qualifications hence the reason we don't end up running/ordering that many credit reports. Some applicants don't pass the qualifications on application and/or court records so we move onto the next without having to even run a credit report.
And you keep the money after checking the public records and court records?
Over here and I believe else where as well the law is clear that after a denial the tenant is entitled to the credit report and if they don't receive it they can sue you as someone tried to do by saying so and we checked it out and she was right but we already had submitted the credit report to her so we weren't wrong in anything and this was probably one of the people who like to get free money by just going after companies IF they wouldn't handle it correctly.
Of course you have the ones who will bring up race but that is difficult to with our company as we have so many different backgrounds for our tenants with different race, religions, and we never made an issue about being married or not regardless of sex, etc.
But we clearly see a shift of tenants who will go and try to the legal right if you won't rent to them and we always tell them that starting to be difficult even before renting is not a sign of being the right tenant and we will move on. That's called "saved by the bell".
Well let us say I have a rent controlled apartment in Manhattan that I am going to lease at a really low rent. And let us say I advertise it heavily and demand a $200 non refundable application fee. And let us say I get 1500 applications. Do I really get to keep the $300,000?
yes.. if you didn't break any local laws and make sure you pay taxes on that. Oh.. make sure you are ready for lawsuit if you plan to do make money this way.
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