Most properties require a set amount of money to be earned each month in order to income qualify. Usually you know whether you will meet qualifications or not without paying an app fee simply by asking for and reading the rental criteria at each property. Once you are ready to fill out a rental application at your favorite place, then you pay the app fee not just for yourself, but anyone staying with you over the age of 18. Occupants will also need a credit and criminal background check as well.
When you have visited so many properties, those application fees can add up quickly! This is why it is better to order your credit report in advance and know what it has on it. Clear up any discrepancies and then place an application only with the property you like the most. All others are best left on the “just in case” list. Basically, you are putting those properties aside if you can’t for some reason qualify for the one you like the most.
Most properties require a set amount of money to be earned each month in order to income qualify. Usually you know whether you will meet qualifications or not without paying an app fee simply by asking for and reading the rental criteria at each property. Once you are ready to fill out a rental application at your favorite place, then you pay the app fee not just for yourself, but anyone staying with you over the age of 18. Occupants will also need a credit and criminal background check as well.
The fee is usually paid via money order or cashier check if there is no debit or credit card reader on site. Checks are usually not accepted since it takes awhile for them to clear. Cash is typically not accepted due to security reasons.
The rental application fee is used to cover the costs of the credit report and background check. If most of the information comes back positive, you are approved and then any additional fees owed will be calculated. If there are no rental specials, those fees might include:
Administrative Fee
Security Deposit
Prorated Rent (if you are moving during the middle of the month)
1st Month Rent
All are due upon move-in. Other fees renters will incur over the duration of the lease may include:
Water, Sewer and Trash
Electricity and Gas
The lease should list all of what the renter pays for.
As you see the application fee is the start of other fees ahead. However, it is very important to pay this fee if one wants to be considered for an apartment. You can always ask if this fee could be waived. The fee is usually paid via money order or cashier check if there is no debit or credit card reader on site. Checks are usually not accepted since it takes awhile for them to clear. Cash is typically not accepted due to security reasons.
Happy Apartment Shopping!
Nicholl McGuire is the owner of this blog and author of What Else Can I Do on the Internet?
