Question on application fees

[Jeff Ryers]

I am hoping to get some feedback on application fees. We are currently charging $50. We have had many people ask for the application. Only one has filled it out. is it too high? Should we be charging at all?

[Greg M.]

I don't charge application fees. I want as many people as possibly applying so I can pick the best one.

List the unit with your minimum requirements.

Show the place and reiterate those requirements. 

If interested, they can fill out an application. If what they put down meets your qualifications, send them a link to run credit and/or background check at their cost. The report goes directly to you.

If it matches the application, rent to them. 

No reason to charge them for 5 minutes of your time. The more desperate a person is, the more likely they are to pay this fee. Those who have excellent credit can pick and choose more and they will not bother with you and your $50 fee.