When you are a tenant leasing a home, you have more than just the rent to consider paying. Tenants will have a better leasing experience when they work with an rental property management company that has clear policies and business integrity. Rental property homeowners can also rely on help from a professional property management to collect rent and fees. Rental success depends on transparent and ethical communication between tenant and management. Let’s discuss what fees landlords can legally charge their tenants.
Security Deposits
Security deposits are collected as insurance for any repairs that need to be taken care of when a tenant leaves a unit. Texas does not have any specific amount limit that a landlord needs to follow regarding security deposits. Owners are required to keep a written record of damages and repairs and the amount of the security deposit that were used to make repairs. Security deposits are required by law to be returned to the tenant within 30 days of vacating the property.
Pet Fees, Deposits, or Pet Rent
Landlords are finding that allowing pets is an opportunity for a larger applicant pool to choose a tenant from and a way to increase revenue above the basic rent. Some rental property management companies are choosing to charge a monthly rent in addition to the current rent for any pet that is in the home. Other landlords may charge a refundable pet deposit or a nonrefundable fee to cover any future property damage caused by the animal. Whichever you choose to charge your tenant for having a pet, landlords need to remember never to charge fees for service animals as they are not classified as pets.
Other Fees from Property Management
Landlords can charge late fees and returned check fees if rent is not paid in full on time. Sadly, some tenant/ landlord relationships wind up in court and then a landlord is allowed to attempt to recover attorney and court fees from the tenant. All charges and fees should be clearly written in the lease and explained at the time of lease signing. When residents and management have different expectations and understanding of money policies, occupants and owner can become involved in costly lease disputes. Conflicts can be avoided with the help of a professional property management company with experience with collecting and knowing the appropriate fees charge.
The property management company that has the experience to help rental property owners with rent collecting and other fees involved with their rental is Specialized. Owners have peace of mind when the finances of their property are handled professionally and with integrity. Tenants feel more secure with their leasing policies when they have transparent communication and an understanding of collecting and fee policies. Learn more about the leading property management at www.specializedrpm.com
