The $100 or 10% is common, but I like the fixed dollars - - it's expensive enough to be painful and to encourage prompt payments.BTW:  TRAIN your tenant by issuing a courtesy notice ONLY ONCE;  "Your rent was late this month and if it is late again, I will apply the late fee of $xxx."

If you make agreement with the tenant basically you put in writing that on xxx date they agree to Vacate and turn the keys in to mgmt at noon, the apartment is broom clean, and you agree to give them cash in the amount of $xxx.xx..  

The permanent real estate number (PIN) for this property is XX-XX-XX-XXX-XXX .

kind of a nightmare to figure out when they move,, so you'd have interest on first amount paid for xxx months then interest on changed amount for the next xxx months.. so NOPE the security deposit stays as is .. don't mess with it ...

Do you require all occupants to have a credit score above xxx?

. *1 year Lease contract*Verifiable income of 3x monthly rent*Verifiable employment history*Verifiable rental references* Minimum Credit Score 675*No Evictions*No Pets*No Smoking*Utilities: Tenant (Lessee) shall be responsible for Electricity, Water, Sewer & Garbage*First Month rent of $xxx and a Security Deposit of $xxx are required at lease signing.* Last Month rent of $xxx is payable over 1st three months.If the prospect states that they meet the requirements I schedule a tour.

You can also call my assistant Josh at xxx-xxxx." 

Some just say "check with a licensed XXX" for everything. 

Write him back stating that you, and your contractor team will be at the property at XXX time. 

Put in $Xxx amount of value in each LLC.