Collection / Fee Reminders

Here are a few friendly reminders to keep in mind during this pandemic / moratoria:

1. No Late Fees
   1. Absolutely no late fees should be charged until further notice

1. NSF Fees
   1. If a resident’s check is returned, you can charge an NSF fee to the resident’s ledger in Yardi
   2. Do not make any attempt to collect the NSF fee until further notice

1. Move Outs:
   1. You can reflect estimated prorated charges, any lease break fees, final rents owed, any unpaid charges, etc. on the Notice to Vacate form – you just can’t demand that a resident pays any amounts prior to move out
   2. Continue to process security deposit accounting for move-outs as you normally would

i.      Send final move out accounting information to the resident

ii.      If a balance is owed and no payment plan is proposed by the former resident, the file will then be sent to collections after the appropriate amount of time has passed. Note the moratoria / demand for payment restrictions do not apply to former residents, only current residents

Oregon and Washington Properties: You can provide residents their current account information using a new form, M176 Emergency COVID-19 Balance Reminder in Tenant Tech, without requesting any demand for payment (sample below). This form is for residents’ reference only.

California and Idaho Properties: A version of M176 Emergency COVID-19 Balance Reminder is coming very soon to Tenant Tech for properties in California and Idaho.  A sample of the form is below for reference only.  Stay tuned for one suitable for use at your property!

Please let us know if you have any questions.