If you’re starting out as a landlord, choosing the ideal tenant can be difficult. Most properties receive a number of applications, so how do you spot the best one? As a landlord, you should be primarily concerned with finding a tenant who can pay rent on time, maintain the property, and follow the rules on the lease. Here are some important factors to keep in mind during the rental application process.
Application fees are necessary if you want serious inquiries only. If an applicant is willing to pay an application fee, this is a good sign that they’re reliable and willing to move forward if their application is approved. Most standard fees are around $20, exclusive of screening report fees.
Remember that, by law, landlords cannot profit from application fees. The profits must be used toward actual costs incurred in leasing the rental. These fees may include a …