We use Avail.co to manage our leases, and it's a simple box to check to require tenants to get a policy.

The 1% rule is a simple rule which is easy to calculate and describe. 

Many companies have left the state entirely.Insurance is a simple math game. 

Now the business itself is rather simple. 

If we assume $1285 in gross rent, or $5140 per month for the quad, the 8% PM fee would amount to $411 per month or $4930 per year after year 2.Now if we do some simple math:$18600- 6240 for miscalculated rent- 4457 for miscalculated HOA dues= $7903 in cash flow per year. 

And in some counties , it can take 4 or 5 years for a simple single-family home as is the case on these waterfronts in Annapolis.

Its very simple to figure out & use and it gives enough metrics to analyze single family properties. 

It's deceptive practice, plain n simple. 

In a perfect situation, the payment will still be delayed (even if by hours) using this additional system.And secondly, many of these vendors have "clawback" provisions where, in their terms of service, you give them permission to go back into your account - even weeks after the fact - and reverse a deposit that was made by your tenant.My system is simple, allows for tenants to pay through multiple means, and does not cost me anything extra.

@Jeff Goedeker A rental P&L statement would be pretty simple to create.