Charging Residents Fees: What's Allowed, What's Not
Charging residents fees for processing applications, running a credit check, transferring to another unit, or for the use of a parking space seems like a practical way to recoup operating costs. After all, these tasks and services require staff time, maintenance, and additional business expenses. However, there is risk involved. Tax credit regulations restrict what you can charge residents on top of their rent, and there are severe penalties for sites that go over the maximum rent.