Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

That is very standard.

Anybody who wants to know the real ROI and occupancy figures can check on Airdna.

BiggerPockets has some pro tools that let you see rent to price ratios and other cool stats, I use this to check out various markets and which seem to have better/worse profitability.

Without standardized processes in place, costs can rise quickly, timelines can stretch, and profits can dwindle.- Standardized Renovation Models: Establishing a clear scope of work for different property types can help manage costs and reduce unnecessary decisions.

Plus we also able to negotiate a frigerator (not part of standard package) as well as blinds for all windows. 

E&O insurance isn’t mandated but is a standard practice in the industry to protect against mistakes or oversights.

If so, you will need to apply for a change of number of bedrooms on the standard CHA rent increase form.

I could take look at it for you, and help you understand it if it's a standard lease, no need to pay me, although I am not a lawyer.