Hey, my name is Jonathan Colón.

@Hong Gao best of luck with the property, I've found that the contractors who don't give written estimates often have some of the highest prices they just throw a ridiculous number out there and some percentage of people just take it. 

This is ridiculous.

Ridiculous - a good landlord does not need a law to have them do the proper thing with pest management.

This includes putting in the time to learn how to run accurate comps for ARV, MAO, rehab costs, closing costs, flipper's profit, wholesaler's profit etc. but time and again I find that a lot of the information I am getting from various "gurus" isn't as helpful or clear as I would like it to be or their pie in the sky promises are just so ridiculous that I can't take them seriously. 

The tenant is not going to pay $4,000 late just to steal $10 from you.By the way, $10 a day on a $4,000 rentals is ridiculous.

Asking them to pay your Full mtg payment, taxes and insurance for a year is ridiculous.

You may be technically legally right (I'm not a lawyer so I can't say for sure)  If it were me I would consider the fee ridiculous and refund it. 

My experience:  (1) The life expectancy of carpet in a rent house could be a short as 6 months or 1 year, (2) in an attempt to harden and tenant proof my rent houses, I use a lot of vinyl and wood laminate plank, (3) Vinyl or wood plank lasts much, much longer than carpet and (4) the prices quoted to you for vinyl or wood planking in the Houston area seems ridiculously high for a standard size (square foot) duplex.

They were RIDICULOUSLY higher than my local agent.