I am moving in two months and currently looking at apartments to rent. I want to keep costs down as much as possible, but some property managers require non-refundable application fees to look at their apartments. Is there any good reason to pay these fees? Is there any financial risk to looking only at properties that don’t have application fees?

0
0
Marked as spam
Posted by Molly C (MONEY FORUMS: 5, Answers: 0)
Asked on November 9, 2015 11:32 am
102 views
0
Private answer
I recommend paying the fee only if you REALLY want the apartment and you know you have a good shot of getting it.
Marked as spam
Posted by Melanie Lockert (MONEY FORUMS: 0, Answers: 66)
Answered: November 29, 2015 12:42 pm
0
Private answer
Yes! Pay this fee, but with caution. Ask what the fee covers. Most likely, it pays for your background and credit check, which is essential for landlords to evaluate if you are a good fit for the apartment. It also shows that you are serious about the apartment and does not waste their time.

Pay the fee if this is the apartment for you. Don't if you have any hesitations. Certainly don't pay it for every single apartment you are looking at.

However, I, personally, would not go for one that doesn't have an application fee because it says that the landlord doesn't care who they rent to or that they want to rent it out quickly.
Marked as spam
Posted by Michelle Diamond (MONEY FORUMS: 0, Answers: 26)
Answered: November 27, 2015 11:03 am
0
Private answer
I wouldn't want to pay a fee just to look at an apartment. My son just moved and we looked at a lot of places and didn't pay any fees. Some of the places were very upscale and they did have an application fee but there weren't any fees just to look.
Marked as spam
Posted by Charlotte Baker (MONEY FORUMS: 0, Answers: 8)
Answered: November 22, 2015 7:14 pm
0
Private answer
Molly, application fees serve a couple of purposes. The first is to weed out potential renters who aren't serious. The second point is that the fee might cover the cost of doing a credit/background check on you. I might ask if the application fee could be credited against your rent or security deposit if you are approved and move in.
Marked as spam
Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: November 12, 2015 5:33 pm