Memphis Apartment Application Fees
Sep 12th, 2007 by Memphis Apartments
One of the worse things about Memphis apartment hunting is the application fee. You might like three Memphis apartments but each landlord has different tenancy requirements. You have to complete three applications to see if you even qualify for one Memphis apartment. Depending on location, this can run you nearly three hundred dollars.
Try to narrow your selection down to one Memphis apartment at a time. Make an application at your first choice. If you are denied, make an application at your second choice only after you learn why were denied. If it is a reason that is likely to get you denied at your second choice, skip it and try to find a Memphis apartment you know you will be approved for.
Before paying an application fee, ask about the landlord’s return policy. If he denies your application, do you get your application fee back? If he accepts you, is your application fee applied to the security deposit or first month’s rent? These are all valid questions. His policy should be indicated on the application form. Do not accept verbal explanations from him. Get it in writing.
Memphis apartment application fees are different from application deposits. Memphis apartment application fees do not hold the unit for you. Three individuals can apply for the same unit but only one can rent it. If you want to hold the unit, ask the landlord about an application deposit. This is money you pay with your application to hold the unit. There are usually guidelines associated with application deposits. If you do not make a decision about the unit within a specified time period, you lose your hold and probably your deposit.
If the landlord does not approve you as a tenant and you have paid application fees and a deposit, he should return the deposit to you immediately. There is no reason for him to hold on to it. You will not get the application fee back. If you paid an application fee and were rejected, ask the landlord to see the documentation he received that resulted in your rejection. He should not take your application fee without doing a proper check.
Once you are approved, the application deposit should be applied towards your security deposit. Your application fees may or may not be applied towards your security deposit. The purpose of application fees is to cover the cost of your background check and the landlord’s time for processing your application. Regardless of the landlord’s decision regarding your application for tenancy, there is no reason for him to return your application fee or apply towards another expense. He has earned it as long as he actually processed your application.
If you are Memphis apartment hunting, set a maximum amount you will spend on application fees. This will help you manage your money and keep you focused on selecting a Memphis apartment. You do not have to settle for the first thing you find, but you also know what the landlord is going to find when he conducts your background check. Do not waste your money on fees for applications that are not going to be approved. Instead try to find a place that does not require a perfect credit history or blemish-free employment or criminal record.
Be realistic and remember that the landlord does not know what he will find until he processes your application. You cannot be mad at him for charging an application fee when you suspected he would not approve you. Before you complete an application and pay the fee, tell the landlord of potential findings so you do not waste your money and his time. He might be willing to consider you because you were upfront and honest.