Start with a complete fee inventory and separate charges into three categories:
Required monthly charges might include an amenity fee, technology fee, trash service, pest control, required parking or mandatory internet.
Variable charges might include utilities based on actual consumption. Explain how those are calculated and billed.
Optional charges could include pet rent, storage, garage parking or upgraded services, subject to local restrictions.
A listing might say:
The bottom line for landlords is that rental pricing is becoming harder to separate into “rent” and everything else. With federal regulators taking a closer look, states and cities adopting their own rules, and listing sites putting more emphasis on total pricing, transparency is quickly becoming the safer approach. Landlords do not necessarily have to eliminate every fee, but they should make sure renters know what they are paying, what is optional and what is required before they apply or sign a lease. A clear price may not just help owners stay ahead of changing regulations. It may also be a better way to build trust with the people they hope will rent their properties.
NANCY ABRAMS Assistant Editor American Apartment Owners Association (866) 579-2262 nancy@aaoa.com
Nancy Abrams has enjoyed a long career in real estate marketing throughout Southern California and Las Vegas. She formerly represented 19 Merrill Lynch Realty branch offices, property managers The Roberts Companies, new home developers, including master planned communities Peccole Ranch and The Valencia Company and shopping centers for Sandy Sigel of NewMark Merrill.
Rental-fee laws vary by state and locality and can change. This article is intended as general information, not legal advice. Landlords and property managers should consult qualified counsel about requirements that apply to their properties.
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