I would send termination paperwork - and if you had an option period pay that fee.

Account Closed I use an "Add A Tenant Addendum" that states the following;Any new tenant must fill out an application and pay the application fee.

So far, rent has been paid, but I have had several requests for delayed rent payments and when I remind her of the late fees, she seems to find the funds. 

Now the fun part, here are the numbers:Original Purchase Price 53 years ago: $35KAppraised value 2018: $1.75M (LTV 42%)Cashout refi: $730k fixed 30yr 4.875% ($640K covers new house & $90K is other misc exp and fees)PITI: ~$4.5kTot.

As long as the foreclosure was a 1st, and done properly, you will have “clear” title except for any HOA fees and current/back property taxes, maybe some utility bills.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

It looks like they're asking for a monthly fee of $85-$100. 

Many are selling to avoid this which is creating a small pocket of increased DOM with decreased values... and buyers are willing to eat 40-60% of the fee as they can put it on their tax bill for 10 years. 

I would only do it if I had the time and they paid me a decent fee to cover my time and an ice-cream cone.  

But if you find hidden defects they will sometimes give you a credit for it.Around here lots of houses from the mid-1900's used clay sewer pipe.