Record High Rent, Plus Fees. - WSJ 👀

Earlier this week the Wall Street Journal released an article entitled > What’s Worse Than Record High Rent? Record High Rent, Plus Fees

"Landlords are hitting tenants with an abundance of fees every month. Many are no more than five or 10 bucks each, but when stacked up they can amount to hundreds of dollars more each year. Some fees, such as those for parking and pets, have been around for years, but many renters now pay up for things they were rarely charged for in the past."

"The five largest single-family-home rental landlords increased their annual fee income per lease by about 40% between 2018 and 2021, according to a report last year from the House of Representatives’ Committee on Financial Services, which obtained fee data from the companies."

"In July, the White House said it won commitments from a handful of the country’s largest listing platforms, including Zillow and, to require landlords to disclose all fees and their costs alongside listings. In June, the state of Colorado capped pet deposits at $300, and Maine limited how much landlords can charge for application fees."



P.S. - This commentary from David Sacks on tech-enabled service businesses and how they're different from pure play SaaS was clear and compelling and a great follow up to last weeks newsletter on the impact of VC in our space.

P.S.S. - Three property managers demo their #1 Automation & Workflow Hack

P.S.S.S. - RentScale is producing the All Bound Conference this December. If you're looking for hard core sales training look no further 🧠

P.S.S.S.S - Security deposit tea leaves:


Know someone that would enjoy the newsletter? They can subscribe here.

Jordan Muela

SaaS 🏴‍☠️ | Property Management Fanatic 💙 | I write a bi-weekly newsletter to 4k PMs talking people, process and profit.

Read more from Jordan Muela

There was a moment where our industry was star struck by the outside capital pouring in to fund VC-Backed property management companies. Now those companies are going under one by one. Yesterday the most well funded player in the category announced it was acquired by RoofStock. Mynd raised over $200M at close to a billion dollar valuation. Their thesis was pure play tech augmented by people: Mynd’s tech product is complemented by “boots on the ground” people in local markets, improving the...

After 7 years I've exited ProfitCoach. Watch the full story. Why did I exit? One word: Focus. Long term concentrated focus on a singular goal at the exclusion of all else. In practice this looks like saying no to fantastic opportunities I both believe in AND want to do. If it's not excruciating to say no to - you're not really focused. "The difference between successful people and really successful people is that really successful people say no to almost everything." – Warren Buffett. Not...

Note: Ready to build your 2024 growth strategy? Come to the All Bound conference this December in Austin, TX. --- Early in my career I viewed neutrality as weakness. The term “fence sitter” comes to mind. Make up your mind… pick a side. I felt safe and strong knowing what team I was on. Fast forward to today and my leadership style looks very different. Why? Because scaling has taught me one thing above all. Neutrality is critical to effective leadership. Neutral means open. Maximally...