The tenants are well aware of how strict this policy is and it is huge in them doing whatever they can to get $ to stay in the house.1.

. $50.00 or 5% of rent) and have your policy specify when it is levied.          

@Mark Byrge I don't know if it's against policy or not, but insideselfstorage.com and click community, there are some forums that you can find some information you are looking for there.

As stated in the previous comment, an umbrella policy works on top of your existing auto and home limits.

That grace period is for the late fee, not for rent.Consider changing your policy so that you only accept checks if received on or before the 1st.

Do you have a written policy as to what constitutes acceptance or denial of application?

Your policy should be fleshed out, spelled out, and dealt out.Rent is due on or before the first day of each month.

It is higher than a mortgage rate here (6+%), but interest only.So this is a dumb question and I apologize for my little knowledge in loan structure and policies. 

Laundry is in the basement I will have a policy on what days people can use including for myself. 

According to the press release, "The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales.