How much to charge potential tenants for credit check

Question

How much do you all charge potential tenants for credit check?  I am wondering how much to put on the application form.
Thanks.

Account Closed · Answer

I charge $20 per adult. It's about 1/2 my cost. Credit and criminal is $21.95 and I spend about 2 hours verifying their references, plus drive to the county courthouse to run eviction and local criminal.
          
          I used to not charge, because if I don't charge an application fee in Oregon, I don't have to show my written criteria to the applicant. But after a few applicants got accepted and then didn't take the place, I had to start charging (and showing my criteria).
          
          $20 seems to keep out most of the no-hopers. I still get liars, but a few minutes on the computer will generally catch their big lies, so I get their fee for not much work. Hey, $40 from a deadbeat family buys me a tank of gas to burn driving to all the showings for all the lookers with no job, no references, and no credit.

Jeffrey K. · Answer

In Wisconsin, you are only allowed to charge what it costs you.  My screening cost me $15.  I charge $15.

Mark N.A · Answer

I charge $35 which is pretty much what the entire credit, criminal and eviction search costs me.

My low-income tenants sometimes squawk -- most especially when I find out they haven't been truthful and don't refund their money!

Peter Giardini · Answer

My charge is for the entire application process... and that includes the credit check.

The key is to charge a fee that covers your costs, ensures that you will get the best tenants, while keeping the charge high enough to screen out the looky-loos yet attainable for your target tenant.

In my market, mostly Section 8 in Baltimore MD, we charge $45.

Best of luck!