Application Fee SCAM Alive and Well

Rental Application Fee Scam ExposedMeet the New Face of the Rental Application Fee Scandal.

  • They can’t sell it in a down market.
  • The can’t rent it because they don’t own it.

 

But they CAN show it and make a ton of money off of it at your expense!

In North Carolina, the rental market can seem a lot like the black market. Renters are accustomed to feeling hustled, fleeced, and generally at the mercy of predatory forces beyond their control.

In this forest of stunted expectations, it can be tough to distinguish between a property management company in a nice office from a common street hustler, a circumstance that has long enabled scam artists on both sides to thrive here. This year it looks like it’s worse than ever, while the real-estate market is still in disarray and most of the Realtor / Brokers setting upon a new market strategy. It just appears as though that they ALL have their hand in the scam, and it’s getting worse every day.

The proponents of such scam fee’s will tell you that; “The purpose of application fees is to protect the homeowner and determine whether or not the property and tenant are a good fit. Application fees cover several costs – credit/criminal/eviction reports, verification of income and employment.”

Whereas the costs of Due Diligence resides on the proprietor for the purpose of screening potential clients in ALL OTHER MARKETS (BY LAW), the real estate market once again has gone UNCHECKED.

These are the same people that would have you pay an application fee at a car dealership, cell phone store, cable provider and even for a job.

But wait, aren’t there laws against those types of fees?

Well of course there are silly! There are dark forces working against you as a renter in the State of North Carolina. Most Realtor’s, Brokers, lawyers and bankers and their minion rental property management companies have lobbied and blocked ANY proposed laws that would make fair practice for themselves - never see the light of day.

The proponents of the scam fee’s will say; “We don’t pocket the money, you couldn’t make enough money off of the fees to make a profit”

Unfortunately, there are far more renters out there who will mindlessly believe this and pay. The scammers know this and also assume that you can’t do a little math either.

The fact is, these scammers make far MORE money per week off of fraudulent application fee’s than they could ever make off of a months rent!

So how do you know who’s a scammer and who’s not? Simple, just ask them; “Do you charge an application fee?” if they say yes, there is a 99.9% chance that they are a scammer. Again, due diligence on your part requires a fair amount of critical thinking.

If there were not laws against this sort of scam don’t you think that ALL of the car dealerships, cell phone providers and department stores would charge an application fee as well?

OF COURSE THEY WOULD!