Property Management
Under Oregon's ORLTA, a landlord may charge an applicant screening fee to cover the cost of:
AAdvertising the vacancy
BA credit and background check to evaluate the rental application✓ Correct
CPreparing the lease agreement
DAny administrative costs related to the tenancy
Explanation
Oregon allows landlords to charge a screening fee to cover the actual cost of a credit and background check. The landlord must provide the applicant with a written summary of criteria before collecting the fee, and must refund it if screening is not performed.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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