Rental Application: Include Application fee or not?

[Bradley Coleman]

Good morning, 

I'm getting quite a lot of interested applicants. Which makes me wonder how to handle them all. Should I include an application fee? Seems somewhat mean to take 10 application fees and only award the property to one. How do you guys manage that? Thanks

[Mike Taravella]

Hello Bradley Coleman

I would view the application fee as a barrier to entry for your property.

If you are getting a lot of qualified tenants that meet your criteria, I wouldn’t charge it. This will allow you to get the best tenant.

If you keep getting a lot of applicants that don’t fit your criteria, the application fee could deter them for applying.

Let me know if you have any other application questions, I would be happy to help!