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Updated over 9 years ago on . Most recent reply
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- Rental Property Investor
- Durham / Raleigh (Triangle), NC
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At Showing "I love it! I Want It!" - Then Crickets Instead of App
I've been showing what I consider to be a GREAT Townhouse Unit for the last two weeks, and with each showing I hear "I love it! I Want It!"... So I send an email with a link to the application, including instructions to complete online and email or print / fax. App fee is only $25, yet I've gotten only 1 completed application to date. Am I missing something as to what happens after the prospective tenant leaves the showing expressing how much they want the unit and knowing the first qualified applicant will get it - yet I get only crickets when waiting for the app and trying to follow up with them!?! I've checked my breath - fresh and clean, as is the home.
- Jonathan Taylor Smith
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- Rock Star Extraordinaire
- Northeast, TN
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I wouldn't waive the application fee because, aside from eating into your costs, it requires the applicant to have some skin in the game. Knowing that there is a credit/background check, and knowing there is a fee, those who are fairly certain they would not pass won't bother, and if they are serious about wanting the unit the fee is immaterial. At worst, you can offer to include the fee for a successful applicant as a credit to the first month's rent.
What happened with the one applicant? It only takes one to rent, so long as they meet all criteria. I am upfront in general requirements with people before they complete (Monthly income of 3X, reasonably good credit, clean criminal background) so that they are not needlessly wasting their money nor my time.
- JD Martin
- Podcast Guest on Show #243
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