 $ 200 application fee (by GKARL [PA]) Dec 16, 2018 6:22 PM
 $ 200 application fee (by GKARL [PA]) Dec 16, 2018 6:30 PM
$ 200 application fee (by Deanna [TX]) Dec 16, 2018 6:35 PM
$ 200 application fee (by NE [PA]) Dec 17, 2018 3:44 AM
$ 200 application fee (by David [MI]) Dec 17, 2018 7:33 AM
$ 200 application fee (by David [MI]) Dec 17, 2018 7:35 AM
$ 200 application fee (by GKARL [PA]) Dec 17, 2018 8:38 AM
$ 200 application fee (by cjl [NY]) Dec 17, 2018 11:46 AM
$ 200 application fee (by BRAD 20,000 [IN]) Dec 18, 2018 7:31 PM
$ 200 application fee (by GKARL [PA]) Dec 19, 2018 10:26 AM
$ 200 application fee (by GKARL [PA]) Posted on: Dec 16, 2018 6:22 PM
Message:
I was reviewing the application of a local property manager and noticed that they had a $ 200 application fee. Here's how it's worded:
" Applicant may submit $200.00 Hold Deposit (two hundred US Dollars) along with application to hold property for applicant and remove from viewing market. This Hold Deposit will be applied to Security Deposit if application is APPROVED. Upon DENIAL of application these monies will be returned to Applicant in same form. FORFEITURE of monies deposited will result from Application being approved and tenant does not take occupancy of property."
If they refund the money, they essentially do the background and credit check for free, however, few tenants are going to shell out $ 200 if they know there's no chance they'll get the place. I would set up to refund half of it in event of non approval. This seems like it would weed out a lot of non serious applicants.
I also noticed this which I think I'm going to add to both my applications and leases:
" TENANCY WILL BE DENIED if any information is misrepresented on this application. If misrepresentations are found after the rental agreement is signed, your rental agreement will be terminated."
That last part seems to give an out if someone slipped through the cracks and lied about pets, occupants and etc. I wonder if that could survive a legal challenge if you terminated a lease because they lied.
Thoughts? --209.122.xx.xxx |
$ 200 application fee (by GKARL [PA]) Posted on: Dec 16, 2018 6:30 PM
Message:
A correction: The application fee is separate. The $ 200 hold fee is in addition to the application fee. I generally take a holding fee equal to the SD so maybe not a good idea unless they're coming up with the rest of the money within the next day or two. --209.122.xx.xxx |
$ 200 application fee (by Deanna [TX]) Posted on: Dec 16, 2018 6:35 PM
Message:
Once upon a time, I offered a little 480 sf 1/1 to a mom, dad, and infant.
They moved in mom, dad, infant, her two kids from another relationship, and his kid from another relationship.
We signed papers on Saturday at lunchtime. I had to come by on Monday at noon to get an extra signature on something. They were out by dinnertime that evening.
One of my bits in my application says:
"I understand and agree that any false or incomplete information supplied may be grounds for rejecting this application and will violate any rental agreement following this application if discovered later."
It's pretty boilerplate in Texas-- I'm sure it's pretty boilerplate elsewhere as well. Basically, if X wouldn't have been offered the place had they been truthful, and they knew it, and X lied so that they wouldn't be penalized for it (like trying to fit a family of 6 into a one-bedroom), then you can't reward bad behavior by saying, "Oh, shuckydarn! I was tricked! Well, I guess there's nothing I can do!" --96.46.xxx.xx |
$ 200 application fee (by NE [PA]) Posted on: Dec 17, 2018 3:44 AM
Message:
I have a landlord friend here locally that does the same thing. It cuts down on the nonsense. Keeps them serious. --50.32.xxx.xx |
$ 200 application fee (by David [MI]) Posted on: Dec 17, 2018 7:33 AM
Message:
Maybe if it is a big apt complex, but I can easily see a lot of well qualified applicants who would hesitate handing over $200 (per person ???) to a no name mom n pop LL.
I don't charge anything beyond the $40 per adult credit report fee, and if they balk, I tell them I can apply the amount to their move-in costs. That quickly separates the serious from the not. --198.135.xxx.xxx |
$ 200 application fee (by David [MI]) Posted on: Dec 17, 2018 7:35 AM
Message:
Since the $40 goes entirely to the credit company, I am actually paying for it if they end up signing a lease. $80-$120 bucks is worth it if it gets a well qualified applicant into the house --198.135.xxx.xxx |
$ 200 application fee (by GKARL [PA]) Posted on: Dec 17, 2018 8:38 AM
Message:
this is not a huge apartment complex but the application of a property manager that manages several small properties. They charge an application fee in addition to the holding fee. The holding fee appears to be optional looking at the application. For me that holding fee is too small. I generally ask for the full security deposit as a holding fee. --172.58.xxx.xxx |
$ 200 application fee (by cjl [NY]) Posted on: Dec 17, 2018 11:46 AM
Message:
I have an application fee of $40 and I also have a Hold Fee like most here. I do NOT return the Hold Fee because once I receive it that means they were accepted and the "plan" is that I am not taking it off the market in anticipation of them moving in. My Fee is equivalent to the SD. Once they sign the lease, pay the remaining monies owed, etc … then we 'credit' the amount towards the SD.
--69.201.xx.xxx |
$ 200 application fee (by BRAD 20,000 [IN]) Posted on: Dec 18, 2018 7:31 PM
Message:
G,
A few years ago daughter was looking for an apt. One private LL required a $900 combo holding fee/app fee for the $900/mo apt.
Talk about weeding out the tire kickers!
BRAD --73.102.xxx.xxx |
$ 200 application fee (by GKARL [PA]) Posted on: Dec 19, 2018 10:26 AM
Message:
Brad--thats pretty wild. I could never get away with that. --209.122.xx.xxx |
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