After observing two friends apply for apartments where both were required to pay applications fees of $45 each followed by several rejections one has to ask after a certain point are rental application fees a rip off? During this very difficult financial time many consumers have less than perfect credit with a variety of blemishes preventing them from renting apartments. How can you avoid the repeated rental application fee rip off?
Ultimately the onus falls upon the consumer looking to rent the apartment. Pull your credit report before applying to rent. If you are trying to rent an apartment that is managed by a large company it will be more difficult to get approved with bad credit but not impossible. Don’t bother going from apartment to apartment paying application fees with the same results because they will continue to take your application fee.
There is generally a three part formula most property management companies use to quality renters. The formula is made up of the actual credit score, rental history and income. The geographical region in which you’re applying can also make a big difference in whether or not you get approved. In Los Angeles for instance most high end apartments that are managed by large property management companies require renters to make at least three times the rent amount to qualify. The other thing you must consider prior to applying is whether or not the property will accept you if you have an eviction. If you have one so be it but it is better for you to pull your credit report before they do so you know exactly what is on the report.
If by some chance the blemishes on your credit report are a result of an illness and or medical bills make this known to the property. If the eviction involves extreme circumstances explain this. Most individual property owners and managers will tell you up front if you ask thus avoiding paying unnecessary rental application fees. Usually if you show up with a current credit report they will even tell you ahead of time so that you won’t waste your money. If all else fails consider renting on a smaller scale or from an individual. There are also a number of second chance rental properties that will rent to people with evictions on their credit. Again the responsibility lies on the renter in doing the proper research prior to aimlessly paying multiple rental application fees.