Peter Lohmann explains new state rules requiring rental listings to show total rent with all mandatory fees included. Property management software can now automatically calculate and display compliant prices, eliminating hidden fees that trap renters.
this is all relatively new, but some states are requiring that the rent price displayed on the listing has to include all of those fees. Like the most prominent price has to show the total with all fees included. And so your products are taking care of that for property managers. So we don't have to like back out into that number somehow. Like we just enter all the data and then it, it makes sure that we're staying compliant in the relevant states. Is that right?
Absolutely. And so it's, and it's handling that straight from your PMS and into the ILSs. So ensuring that essentially there's no hidden fees, right? It's the, I think the regulatory environment is protecting against this like bait and switch. You see rent at $1,100, but when you go to sign your lease, there's all these add-on fees. It's really $1,400, right? Yeah. So marketing that at the full $1,400, whatever those dollar amounts are, so that the consumer knows exactly what they're getting into when they—
It seems fair.
