Collecting the application fee? - Landlord Forum thread

Collecting the application fee? by Anonymous on June 8, 2012 @15:24

The post in another thread got me to thinking... if a person submits their application by email or fax, how do you collect the application fee?

Do you show the place first (possibly wasting your time if they are a no-show) and then get the fee at that time so you can then run a credit check?

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Re: Collecting the application fee? by Anonymous (MN) on June 8, 2012 @15:30	[ Reply ]

You almost always have to show them the place first to get them to agree to an application fee so you can run a credit check. I don't know of many people who would agree to fork over the $25-$30 application fee before they see the place. Unfortunately, wasting your time with no-shows is something that may happen and is just part of the whole ordeal. As far as the application being returned by email/fax, I do all of this online and a lot of times just ask them to give a credit card, pay me via PayPal, or mail me a check. Once I get the money, I get instant results on them, so it doesn't take me longer than 5 minutes to look it over and confirm everything is good.

Re: Collecting the application fee? by Micah on June 8, 2012 @16:24	[ Reply ]

You can collect is with Paypal or another online source. Personally, I tell prospects to bring all the necessary information to fill out the app when they see the place (pay-stubs, license, previous LL info, etc). Then if they want to apply they do it right then and there and hand over cash or check for the fee. As for the no-show aspect, I have open house showings where I schedule people 15 minutes apart so that I don't end up wasting my time unless everyone is a no show...

Re: Collecting the application fee? by Jack Klein (NY) on June 8, 2012 @17:33	[ Reply ]

I agree with Micah, but if you take an application by fax, I recommend they drop off a cash or money order deposit asap if they want to hold the rental for a lease signing. Otherwise set it up for an immediate lease signing within the next day so they can bring you all funds (rent, security, and other move-in fees if any)

Re: Collecting the application fee? by Anonymous on June 8, 2012 @18:25	[ Reply ]

This is one of the reasons I use the TU smartmove service for my credit checks. They handle the fee transaction online and I don't have to deal with any of it. They take all major credit and debt cards so if a prospect doesn't even at least have one of those, then they're out by default. Easy.

Re: Collecting the application fee? by Greg on June 9, 2012 @12:43	[ Reply ]

I only take cash when taking applications. Greg in Phoenix