@Akeim Fin I haven't done it, though I've seen leases for only part of the year of course, especially in student situations.My thought is, sure you can try to put such fees in, but collecting on them if the tenants didn't pay those would be a different matter entirely.I think if you did this in an A or maybe B area, you might stand a chance of having people pay those fees, but I wouldn't count on them.And as you said, it's a legal question in general, and involves doing something in a lease which is uncommon, so I think it's one best posed to your attorney anyway.

BRG is an example, and it has nothing to do with collections.

It really isn't a red flag that they'd like to wrap it up early collect their money and move on.

I would ask yourself how much did you pay and is this amount worth hiring an attorney who will charge you probably more to collect it? 

We are a little off on collections maybe 5% of our PLs.

Is there any software out there that simplifies rent collections and general management? 

Alternately since you are in Chicago some now collect a move in fee instead of a deposit or use some sort of security deposit insurance (e.g.

In most cases I’m heavy on tech for turnovers, then tend to be more hands off with various CRM, automatic rent collection, and maintenance request forms after move-ins.

I was planning to collect the security deposit when they sign the lease this week. 

How have collections been for you?