This general rule may be modified by some form of agreement, whether implied or written down.

But we modified our 'giving people a chance' stance a little, based on our experience.

This letter is available to download from the BP File Place and can be modified for your own use.  

However, at what point will the law be modified to go beyond this original intent to enact rent control (which is unconstitutional in our state).  

Finally, modify your leases and make sure you are abiding by local laws so that you mitigate your risks.

Come on.... docusign and 5 minutes of modifying a template I've had for years is not worth charging anything for, let alone half a month's rent.

@Brandyn Dietman  I'm a little late in adding to this discussion, but you may want to download our "Rent Past Due" letter from the BP File Place and modify it for your own use.

To follow up on some of the comments I do have a written policy but I had to modify it for this unit to fit the demographics, I just forgot to include the minimum credit score (DOH).

I'm now at the point where I have two applicants that can move in for July and I'm having a tough time choosing between two of them.Application 1 (3 related + 1 friend) - application was submitted first ProsPlenty of income to pay - 5x+2 with great credit (>700)work with a friend who gave a good reference1 attended the same religious institution i did so I'm less inclined to think they would mess up the unit which could be naive 1 year of rental history with no issues paying a fairly higher renthigh job security (family business)Conshigher chance of short term rental - I'm basing this on their young age and the fact they could easily decide to move out on their own2 with bad credit (<600)Young - early twentiesbasement will need to be used as an additional bedroompotential parking issues (4 cars)"kiddish" rooms would need to be repaintedApplication 2 (1 adult + 4 kids)Proshigher chance of long term rental (>3 years) - I say this because the last two locations this person stayed for 3 and 4 years only to leave when the houses were soldfit to the house - in that the rooms are decorated "kiddish" now and don't need to be modified at all ie. repainted, etc)paid same rent for over 7 years w/no issuesCons43% of income to rentBad credit (<600)  - I'm told this is the result of issues with the absentee parentI should also say i have a relative who is a lawyer involved in real estate so he's prepared my lease and helped me out with what can be done legally etc.

You may download them if you wish and modify them for your own needs.