All About Rental Application Fees
At first, rental application fees might seem like an excessive part of the screening process, particularly because the moving process is already pricey enough as it is for a potential renter. However, it is not enough to only make renters fill out a rental application form. There are further steps that landlords can take.
While at first, it might appear excessive, rental application fees genuinely safeguard landlords and all prospective tenants. The payments are normally used for the processing of tenants. Knowing the criminal record, credit history and previous evictions of applicants is critical for landlords.
Landlords typically go to third-party services to obtain the necessary information about a potential tenant. The application costs will also sometimes cover administration fees, although these will vary from state to state. Landlords should always be upfront about these fees and follow state laws. It’s also a good idea for prospective tenants to know whether or not the fee is refundable to avoid complications if they ultimately are not approved.
This update is by Livo, arental optimizationplatform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more.Please call 833.333.5486 today to learn more.