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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D">Without looking up any law, my concern would be disclosure. We are all familiar with auto industry advertising with the undecipherable tv small print or unintelligible
radio speak on auto sales and leasing adds. The fine print places limitations on the great price in the ad. Yet the industry standard in residential rentals seems to be an assumption that the advertised monthly rent is based on passing that rental’s application
criteria including credit. I don’t recall seeing any limitations on monthly rent shown on prop websites or third-party websites like rent.com (maybe I haven’t looked close enough). That makes me think that there is some law or reg (case, statute, government
agency, etc.) somewhere allowing advertising without disclosure of limitations on the advertised price and perhaps a particular statute or reg created duties for certain industries, like the auto industry. Otherwise, given the prospect of lucrative class
action filings, I don’t see why plaintiff attorneys wouldn’t have jumped on an alleged lack of disclosure on advertised monthly rents.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D">Mike<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D"><o:p> </o:p></span></p>
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than the intended recipient(s) shall not be construed as a waiver of any privilege or confidence. If you receive this transmission in error, please contact the sender and delete the material. Thank you.<o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b>From:</b> landten-bounces@lists.flabarrpptl.org <landten-bounces@lists.flabarrpptl.org>
<b>On Behalf Of </b>Jariel Bortnick<br>
<b>Sent:</b> Monday, October 28, 2019 11:42 AM<br>
<b>To:</b> RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org><br>
<b>Subject:</b> Re: [RPPTL LandTen] "Risk Mitigation Fee"<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Harry, the risk mitigation fee is being charged in multifamily as well. <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Regards,<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Jariel Bortnick<o:p></o:p></p>
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<p class="MsoNormal">On Mon, Oct 28, 2019 at 11:41 AM Harry Heist <<a href="mailto:harry@evict.com">harry@evict.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">Hi James,</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">This is being done in single family management, not multifamily.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">The name of the game now is to get as much money out of the owner and the tenant.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">Having a tenant pay the property manager a “risk mitigation fee” adds up and increases their income. The property manager is keeping
this fee in almost all the cases I see.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">Harry</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Arial",sans-serif;color:#1F497D">LAW OFFICES OF
<br>
HEIST, WEISSE & WOLK P.A.<br>
PH: 1 800 253 8428<br>
FAX: 1 800 367 9038<br>
"Serving the Property Management Professional"<br>
Website: </span></b><span style="color:#1F497D"><a href="http://www.evict.com/" target="_blank"><b><span style="font-family:"Arial",sans-serif">www.evict.com</span></b></a></span><b><span style="font-family:"Arial",sans-serif;color:#1F497D">
<br>
Email: </span></b><span style="color:#1F497D"><a href="mailto:harry@evict.com" target="_blank"><b><span style="font-family:"Arial",sans-serif">harry@evict.com</span></b></a></span><o:p></o:p></p>
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</span></b><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">Visit us on Facebook</span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:7.5pt;font-family:"Arial",sans-serif;color:#1F497D">THIS E-MAIL MESSAGE IS CONFIDENTIAL, ATTORNEY-CLIENT PRIVILEGED, AND INTENDED FOR THE PERSONS NAMED ABOVE
ONLY. ALL OTHER USE, COPYING, OR DISTRIBUTION IS STRICTLY PROHIBITED.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif">
<a href="mailto:landten-bounces@lists.flabarrpptl.org" target="_blank">landten-bounces@lists.flabarrpptl.org</a> [mailto:<a href="mailto:landten-bounces@lists.flabarrpptl.org" target="_blank">landten-bounces@lists.flabarrpptl.org</a>]
<b>On Behalf Of </b>James Glover<br>
<b>Sent:</b> Friday, October 25, 2019 4:43 PM<br>
<b>To:</b> <a href="mailto:landten@lists.flabarrpptl.org" target="_blank">landten@lists.flabarrpptl.org</a><br>
<b>Subject:</b> Re: [RPPTL LandTen] "Risk Mitigation Fee"</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">My thoughts from an apartment community perspective. Right away I'm thinking FHA and Fair Credit Reporting Act issues.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Practically speaking, the Tenants either meet qualifications or they don't. I don't know why you make a downward exception on your qualifying criteria just because a tenant offers
you more money. You might as well throw your criteria in the garbage and just raise your rents for everyone. I know plenty of landlords that do just that, and get double market rents being the "felon friendly" apartments. My experience, once you make that
departure upward or downward, you've changed the entire tenant mix for your community. You can't just make one-time exceptions per FHA, if you have one eviction tenant, then you rent to any eviction tenant. <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Additionally, if you're giving different terms based on bad credit or credit score, you need to be extra diligent in giving written credit decision notices and justifying your decision
criteria per the FCRA. <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Can you charge the additional risk mitigation fee per this scheme? Probably, but the income isn't worth the headaches.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;color:#666666">--</span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;color:#666666">James "Jimmy" Glover</span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666">General Counsel</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666">Circle Property Management, Inc.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666">office:</span><span style="font-size:10.0pt;color:#888888"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#1155CC">772-888-0865</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666">email:</span><span style="font-size:10.0pt;color:#888888"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#888888"><a href="mailto:James@circlerentals.com" target="_blank"><span style="color:#1155CC">James@CircleRentals.com</span></a></span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666">address: </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#1155CC">P.O. Box 1026, Jensen Beach, FL 34958</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666">Licensed Attorney in Florida and Alabama</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;color:#666666"><img border="0" width="420" height="126" style="width:4.375in;height:1.3083in" id="gmail-m_4368323797578732186_x005f_x0000_i1025" src="https://docs.google.com/uc?export=download&id=1WkXPKjxY3AsTTxpTJScGNzn_dwQxE2Yp&revid=0B6hCAiZEFt8GWUs1UUpDaTRXQUtUemFwNkJuZ3ZvaFdGdnB3PQ"></span><o:p></o:p></p>
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<p><span style="font-size:7.5pt;font-family:"Arial",sans-serif;color:#222222">NOTE: This e-mail is intended solely for the use of Circle Property Management, Inc., Chuck's Rentals, Inc., and/or Southern Investors Management, Inc. (collectively, "CPM") and the
individual(s) to whom it is addressed. If you believe you received this e-mail in error, please notify the sender immediately, delete the e-mail from your computer, and do not copy or disclose it to anyone else. If you are not an agent or employee of CPM,
do not construe anything in this e-mail as forming an attorney-client relationship, and do not disclose anything to Mr. Glover or CPM that you expect to hold in confidence. If you properly received this e-mail as an employee, agent, co-counsel, or retained
expert of CPM, you should maintain its contents in confidence in order to preserve the attorney-client or work product privilege that may be available to protect confidentiality. Mr. Glover is not licensed to practice law in Illinois or Indiana.</span><o:p></o:p></p>
<p><span style="font-size:7.5pt;font-family:"Arial",sans-serif;color:#222222">To ensure compliance with Treasury Regulations (31 CFR Part 10, Sec. 10.35), we inform you that any tax advice contained in this correspondence was not intended or written by us to
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">---------- Forwarded message ---------<br>
From: <strong><span style="font-family:"Calibri",sans-serif">Harry Heist</span></strong> <<a href="mailto:harry@evict.com" target="_blank">harry@evict.com</a>><br>
Date: Fri, Oct 25, 2019 at 10:59 AM<br>
Subject: [RPPTL LandTen] "Risk Mitigation Fee"<br>
To: RPPTL Landlord Tenant Committee <<a href="mailto:landten@lists.flabarrpptl.org" target="_blank">landten@lists.flabarrpptl.org</a>><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">It seems like each day property managers are coming up with fees that I believe will eventually cause a problem and be class action
material. </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">They are spreading as these managers are on all of these Facebook groups, someone says they are doing it and then everyone thinks it
is OK.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">The latest one I have been seeing is a “Risk Mitigation Fee”.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">This is a nonrefundable fee that the higher risk tenant (bad credit, bankruptcy, eviction etc) is being asked to pay as part of being
approved.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">Often this “fee” is being kept by the property manager, split with the owner or given to the owner. More often than not, kept by the
property manager.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">Does anyone have any info on the legality of this?</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">In the money lending world, creditors are free to charge a higher interest rate to a higher risk person but this now????</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D">Harry</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:14.0pt;color:#1F497D"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Arial",sans-serif;color:#1F497D">LAW OFFICES OF
<br>
HEIST, WEISSE & WOLK P.A.<br>
PH: 1 800 253 8428<br>
FAX: 1 800 367 9038<br>
"Serving the Property Management Professional"<br>
Website: </span></b><span style="color:#1F497D"><a href="http://www.evict.com/" target="_blank"><b><span style="font-family:"Arial",sans-serif">www.evict.com</span></b></a></span><b><span style="font-family:"Arial",sans-serif;color:#1F497D">
<br>
Email: </span></b><span style="color:#1F497D"><a href="mailto:harry@evict.com" target="_blank"><b><span style="font-family:"Arial",sans-serif">harry@evict.com</span></b></a></span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal"><br clear="all">
<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">-- <o:p></o:p></p>
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<p class="MsoNormal">Jariel Bortnick<br>
561.703.1155<o:p></o:p></p>
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