Application Fees for Unprocessed Apps

[John Sanderson]

Hey everyone, I searched around and couldn't find anything about this ( I may have missed something), but if you have multiple applicants, do you process all of them at the same time, or process them one at a time and stop at the first qualified tenant?

And my main question is, if you process them one at a time, what do you do with unprocessed applications that you collected a fee for? Do you try to return the fee to the prospect or do you pocket it? Pocketing it sounds shady at best, and illegal at worst for an unprocessed application.

Any insight is appreciated, thanks in advance!

[Dave Ramirez]

I make them pay to a third party and I get a copy of the report. I don't get any of the $35 processing fee. If you have two good tenant options and both are represented by real estate agents you can start a bidding war on the apartment. We had a luxury condo list at $3000 and rent for $3250. Market rents were about $2800. I have been using cozy.co for a few years now.