Some landlords believe that charging an application fee to run a credit check will save them money in the long run because prospective tenants with poor credit will usually not consent to pay. Others are afraid that charging a fee will deter good tenants from applying to rent their property.
You can decide to charge the upfront fee and, if the tenant rents the apartment, deduct the fee from either the first month’s rent or add it to their security deposit. Another option is to only perform credit checks on applicants that leave a deposit for the apartment and have completely filled out the application. This way you know that they are truly interested in renting your property.
Bradford Miller Law, P.C. has been helping landlords for several years. We approach every client with a focus on integrity, advocacy, and understanding and can provide experienced legal guidance to assure that your assets are protected.
At bradfordmillerlaw.com you will find helpful landlord information along with information about our firm. Our experienced attorneys have earned membership in the Better Business Bureau and we have great reviews on Yelp.
To discuss your pending or potential real estate transaction, your ongoing legal needs as a property owner or landlord, building code violation defense or your estate planning concerns, call us at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
Offering free legal representation to homeowners seeking a short sale
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