How can I charge an application fee?
Application fees are charged to cover the costs involved in processing the rental application. If you want to charge application fees along with the rental application, you need to enable this option when listing a unit.
To enable the application fee requirement for your prospective tenants, you will want to select the “yes“ option on the “Do you require your applicants to pay an application fee?” step when listing a unit.
Please note! This setting is selected per unit. For example, you may request the application fee from people applying to one of your units but disable this requirement for another listed unit. Feel free to customize it according to your business needs!
You can always change this option by editing the “Application settings“ section of your listings.
You can configure this setting in detail by going to Settings > Application fee menu.
Here, you’re welcome to select one of the two possible flows of collecting this fee:
- Automatically when the application is submitted:
To submit their application, an applicant will be asked to pay the associated application fee right away.
- By request after the application has been submitted: you will be able to request the application fee from an applicant manually after the application has already been accepted and reviewed. If you have opted for this flow, the "Request Application Fee" button will appear in the Actions (three-dot) menu of the submitted rental application.
You can also use the “Cancel the fee“ button from the same menu within an application if such a need arises.
Please note! You won’t be able to delete an application with the requested application fee.
You can accept the application fee in two ways: online or offline.
To be able to do that online, you will want to set up your online payments and add at least one bank account. The application fee will be automatically sent to the Main bank account (if the application fee is hidden from the owner) or the property-assigned bank account (if it’s not hidden from the owner).
The applicants are able to pay the application fee with their card only.
These links may be useful:
How do I set up an individual Online Payments account?
How do I set up a business Online Payments account?
If your online payments are not set up yet (or you don’t want to collect the application fee via our platform), you can still post an application fee invoice. The applicant just won’t be able to pay it online. In this scenario, you will want to receive the associated funds outside the system (offline) and mark such invoices as paid in your Accounting.
See this guide for step-by-step instructions: How do I mark a transaction as paid?
Dec. 14, 2023