I explain the grace period is for unforeseen circumstances and not to be habitual or abused.  

Having a proper lease, qualifying tenants, managing maintenance and repairs, and unforeseen issues are time-consuming. 

You never know what the future might hold, and you need to be ready to pivot in the event that an uncontrollable outside force like regulations change or you need to sell the property due to some unforeseen circumstance.

While most of the properties I’m currently looking at tend to be superficial, this business does run the risk of encountering issues that are unforeseen. 

This not only helps protect the tenant's belongings, but also gives the property manager peace of mind knowing that their tenants are adequately covered in the event of any unforeseen circumstances.Notice of Entry:Tenants have the right to privacy, which is a fundamental aspect of their living arrangements.

Unfortunately bad vendors and unforeseen events are a common occurence in this industry. 

What happens in the event of an unforeseen event?

Is the debt so great that if an unforeseen event occurs can you carry the loss forward or will you loose it all at the first ripple on the water? 

Just make sure you have reserves and are prepared for any unforeseen or even planned capex or maintenance.

Anything you would avoid or be cautious of because of an unforeseen circumstance?