Application Fees in MKE
I'm curious where the rest of you fall in terms of charging application fees on open units. In the past, I have allowed tenants to apply for free. After selecting my top candidate I have them complete a background/credit check online. They pay the website $40/per adult on the lease for this, I make nothing (which I'm fine with).
If you've used up front application fees have you:
1) Felt like you've lost out on potential tenants who don't want to pay the money just to potentially be denied?
2) Felt like your management has been more efficient because you aren't spending time corresponding with/showing the unit to unqualified parties?
Zillow does an up front $29 application charge that includes a background/credit check - has anyone used that?
@Marcus Auerbach and @Matt Maurice would very much appreciate hearing your thoughts if you're willing to share.