Federal and State legislation is targeting deceptive fee practices across industries, the rental housing industry being one of those affected. This includes the White House proposal for a Renters Bill of Rights (discussed further below) and weighing in heavily on the discussion of Junk Fees with the FTC’s proposed rule on “Unfair and Deceptive Fees”.
At the state level these measures are taken even further with California being among the loudest and most active. Additional states include Minnesota SF 2909 (discussed in our Q3 Compliance & Legislation Update blog post), Virginia HB 967 and HB 1519, and pending legislation with Illinois HB 4629.
Below we discuss the active and pending state level legislation in California and Virginia, as well as the federal level legislation as it applies to housing and the important legislative actions taking
Now, perhaps more than ever, apartment owners and operators are seeking operational efficiencies. Multiple motivations are fueling the trend. To start with, because of the amount of turnover at the property level today, onsite teams often are either short-handed or inexperienced. Using technology to reduce and streamline an associate’s workload can give them a much-needed hand. And by taking to-dos...
*A Comprehensive Look at Resident Service Packages* Currently, there are 44 million renters in the US. With the recent volatility in the economy, 60% of the US is actually living month-to-month. In an ideal world, renters would have a rent-to-income ratio around 30%, which for many is difficult. This is especially true if you live in more expensive cities like New...
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