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Updated almost 7 years ago on . Most recent reply

User Stats

88
Posts
49
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Kat Rathell
  • Rental Property Investor
  • Milwaukee, WI
49
Votes |
88
Posts

Refunding rental application fee

Kat Rathell
  • Rental Property Investor
  • Milwaukee, WI
Posted

We have properties in C/C- neighborhoods, so, a lot of prospective tenants come with ‘baggage’ - evictions, criminal records, etc.

As a result, once we receive applications with authorization to conduct background checks, what we’ve done is first run the name/DOB through the local court records, and only run a full background/credit check if we don’t find something worrisome (defaulted debts, multiple/recent evictions, violent crimes, etc.).

It is a lot quicker that way, and also costs applicants less.

However, we are left with the burden of refunding application fees, since in WI you can only use the application fees to conduct background/credit checks, and have to provide tenants with a copy of the results upon request.

Any suggestions on quick and easy ways to refund application fees?

Thanks in advance!

Most Popular Reply

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13,184
Posts
16,330
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John Underwood
#5 All Forums Contributor
  • Investor
  • Greer, SC
16,330
Votes |
13,184
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John Underwood
#5 All Forums Contributor
  • Investor
  • Greer, SC
Replied

Keep the application fee no matter what step of the approval process they fail.

Your time is valuable.

  • John Underwood
  • Loading replies...