Application Fees

[Jason V.]

Every single book on Landlording I pick up, every podcast I listen to, and every post I read says the application fee ($25-$75) is a must.

But in researching locally (as a previous renter, and by asking local renters) I'm finding that only larger apartment complexes around here require this. 

Anyone else who invests in a rural area have an opinion on this? To give you an idea, two bedrooms in a house around here typically rent in the $650 range, typical one month security deposit, appliances all provided, etc. 

To be honest, the tenants I have now I placed before getting involved at BP, so I did screen them well (landlord references, employment checks, eviction/court checks, income verification, etc.) I just didn't pay to run criminal background checks or credit checks. I've had great tenants for the last two years, but I know luck won't last forever....