@Matt Jones thanks so much for your time and your answer.

You have signed the lease and accepted his deposit and cashed it, correct?

Even if he won't sign a new lease, I would simply post this on his door advising him of the new rental rate, take a picture of it, and save it for possible future need if you have to file for eviction. 

I was curious and went to the website and signed up so that I could better understand what the options and capabilities are. 

The listing agreement must include the following:* The agreement's valid date (must be signed within the past 30 days)* Brokerage and agent representing the owner* Signature from both parties entering the agreement* Full property address (including the unit number, if applicable)* Terms stating that you have exclusive permission from the owner to rent/lease the property"The problem is I am not a realtor or broker. 

Plus its never a good sign to have a propety roll over into a new year stuck with 60-90 days or more DOM days on the market.  

In my experience it helps keep pre-applicants organized and is an actual sight with a google-able name so it doesn't seem as scammy.The background check and credit fee is $30 paid by the prospective tenant but I always tell people applying for my units ahead of time what my credit and background requirements are and that if they pass those qualifications (plus the reference checks) and sign + pay the deposit that I will reimburse them the application fee.

I agree, the market can feel a bit overvalued in some places, but with the right team and strategy, there are still plenty of opportunities out there.For fix-and-flip hot spots, you might want to explore areas that are still affordable but showing signs of growth.

Have you seen something like this in an NDA you have seen or signed?"

If it is too low to be true, it is most likely not true.Since my leases are fixed short term leases with no option to extend with visiting scholars, I'm able to start advertising as much as 9 months before there is a vacancy and get a signed lease with last month's rent paid in advance.