Up to this point, I have not charged the paltry $20 that we are allowed max in NYS to charge a tenant for the background check (usually costs at least twice that much) but on this vacancy, I have had THREE that qualified after the background check and all three have gone radio silent on me after telling them they are approved.

Two past candidates backed out for various reasons over the past 4 months. This latest one is no exception. Radio silence after text, email, call (went to VM).

To recap, I very seldom get to the point of the background check as approx 98% of the responses are DQed at the prequal. I could have had it rented back in April if I was willing to rent to the most drama laden, nomadic, destructive, litigious dregs but I refuse to do that as I want to SWAN (sleep well at night).

Seems especially the younger generation needs to have skin in the game as they find it easy to vacillate and back out at the last minute.

6x6 basically because there have been so few qualified applicants. I looked at it as a "fringe" benefit to the qualified applicant. As in the automobile sales ads "well qualified buyers get a special interest rate."

But seeing that the latest generation of renters don't take anything seriously until THEY have to pay I will start charging the token $20 going forward.

My rental on this particular street is solid C to C- and the town itself has a "low rent" stigma. I do see more people fixing up their properties on the other street in this town that we own on. Code enforcement has had a changing of the guard.

And there have been some upgrades on this area too. But to have a S8 tenant tell me that this town wasn't good enough for her and her children--you can see the struggle I have to get good solid renters. I'm basically targeting budget minded young people out of college.

When we first started charging, we told folks we would knock it off the second month's rent if they were accepted, signed a lease and moved in.

Worked for us.

They are doing that (after you have accepted or approved they "vanish").

I had one that was all set, I asked him to do a HOLD FEE since he didn't want to move in "right away"... he asked if we could meet a week (or two) later as he was going to be out of town. I kept it advertised, etc but when that date came about... I didn't hear from him as well as he hasn't called back.

I know that's not the "same" thing but I've had a few of them get approved and then they "change their mind" after doing everything we needed them to do to get approved.

At first I thought maybe I was taking too long (as some I did because I was just swamped with a lot along with trying to find the time to go through their information, etc) but others are just "oh, yeah... I've decided to not move or move to a different area, etc"....

Mapleaf one thing you could do (if you wanted) is to charge them the $20 and then state to them that if/when they are approved and move in, etc you will "credit them" the $20 fee at that time.

Why not charge everybody that pre-qualified an application fee to apply, then screen what you can for free and if they don’t pass the free screening, you’re done. That would offset your screening costs.

NE, I do the free stuff first especially if I think they are dodgy to begin with. The "please provide a screenshot of your credit score" has really sorted out the disingenuous during the prequal. I ask about their credit score at the very end with the screenshot (the prequal; if they get as far as the application, then I verify everything with a 3rd party background check).

LL references I do first for those who have squeaked by the prequal (and now there will be less of that with the screenshot upload requirement)

The response to the prequal has dropped about 80% when they need to PROVE their CS. They immediately bail.

Jason, I am now going to start charging a background check fee of $20 for those who have passed the prequal (about approx. 2% of responders) to offset the costs since if you don't charge, people won't take it seriously.

I should state I can always tell those bold enough to NOT bail when they see the CS screenshot on the prequal.

They start texting me that they are "having trouble" ™ uploading their screenshot and want an exception, blah blah.

I had one woman who "wanted to move for a fresh start" ™ told me she would "give up smoking/vaping" to get the apartment.

Charge it. $20 will buy ya a couple of beers at the local pub to drown your sorrows of having to invest in an overregulated market.

Curious... why are you keeping your investment dollars in such a hostile place? Ever thought about cashing out and doing a 1031 exchange to greener pastures and hiring a good PM?

NE, no loopholes. $20 max. Some companies have the regulations built in so they end up charging the tenant 20 and the landlord the balance. The TransUnion tenant Check website which I'm not really thrilled about does this.

Jason, yes I am aware that they need a gmail acct for the upload. Most people have one so not too worried.

It sounds to me like you need to revamp your process. You have only received 3 applications? With zero application fee?

Sisco, go back and read my earlier posts. This is a C- neighborhood. Nothing but the dregs so no there won't be more applicants. This afternoon I received 3 inquiries, all with credit scores in the 400s.

Again, I have a prequal before they even GET to the tour or application process.

UPDATE: #3 just called and backed out. Said the 23 minute drive was "too much" of a commute. P.S. the house he's living in is actually SMALLER than this unit!

I used to charge a fair amount, sometimes eating the cost of a second Fico/Credit Report, making the applicant pay for the first set of reports, background, social security, etc. Meaning they pay $30 and I eat a $15 extra expense.

BUT THIS IS NO LONGER POSSIBLE. LANDLORDS ARE NOT ALLOWED TO RUN MOST TYPES OF CREDIT REPORTS AS OF JULY 01, 2024.

But recently I had a criminal, City attorney decided not to prosecute him, because he only rapped adults and no minors, apply for a 2 bedroom.1 Bedroom to sleep and the second bedroom to torture his victims.

I broke the law and ran a complete credit, background and criminal reports. The City tired to pass him thru with Section 8 money. Then rejected the applicant based in his deception, criminal history, etc.

My little test with my latest empty has proven to not produce 1 application.

Too soon to tell if it is because I am charging $25 per application (up to 2 adults), the fact that I will not show the place until they fill out an application, the fact that I am using free Zillow, maybe all the good tenants are staying put or I just haven't given it enough time.

Mapleaf,

I would not send credit info to a total stranger online.

I also suspect applicants for a C- home probably don't even KNOW what a credit report IS! Let alone have the sophistication to look it up online or ANY data on their prepaid phone. These folks do not have computers or internet.

You've heard me say this

-Simplify the process

-Charge for your time

-Don't show ANY home without a prescreened, PAID application.

-Credit score does not mean good or bad renter, ESP on C- homes.

Stay strong to protect your time!

BRAD

Brad, Anyone can take a screenshot of their credit karma account which is free to them to create. It only reveals their name and credit score and possibly their current address but that can easily be blocked out.

No one will pay up front to SEE a place around here.

My process is simplified--google automated forms prequal which I have color coded into a sheet and set up to send an auto email to deny on, currently, 3 main criteria. That's 98% of all inquirers.

For the 2% that pass the prequal, they get a tour then the application link asking them to upload bank statements, etc.

If that is approved, THEN and ONLY THEN do I do the free checking followed by a paid background check, which now I will be charging $20 for.