Guarantor/Renter Application Fees college students

[Michael Richardson]

Hi - We're getting a lease ready for 5 college students.  We use Rentredi as our PM software and they charge $35 for background/credit checks.  I feel a little bad charging $350 of application fees, but that's what it would be if we screen all the tenants and their parent/guarantors.  Knowing these students aren't going to have much credit/income yet (and they're freshmen so doubtful they've ever been evicted), would you forgo the screening on the tenants and only have the parent/guarantors pay the screening fee?

[Kristi Mergenhagen]

Hi @Michael Richardson! 

BiggerPockets has a landlord resources tab. You can find the landlord resources tab by hovering over the "tools" bar and clicking "Landlord Resources". 

On that Landlord Resources page there list of recommended companies for tenant screening. I would recommend doing your research and picking the company that best fits your screening needs. There may be some options listed that allow you to charge less than $35.00 per applicant. I'd recommend running a background check at the very least on each occupant 18 and older in your unit. 

Best of luck! :)