Doing so ensures compliance with your lease agreement and avoids potential legal disputes down the line.In conclusion, adding your property manager to your insurance policy as an additional insured is a crucial step in protecting yourself and your property manager.

Quote from @Bruce Woodruff: Quote from @Stetson Oates: I’m not an attorney so this is not legal advice!!!!

To protect our rights, we would definitely deliver a formal 5 day notice (Wisconsin Legal Blank), but at the same time indicate that we are looking to collaborate to find a solution.

Quote from @Shaun Ng: Hi, I recently have a legal name change, and I own 2 rental properties in Fairfax county, VA.

. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I love how Airbnb just pay me based on the evidence without going through 6 months legal battle or 3 years of collection hunting. 

- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

No legal jargon or last-minute surprises.Smaller credit unions are also worth exploring.

Legal violations and penalities(fines) even if you have accounting software to track the difference.