Triple Win Property Management
Junk Fees Deep Dive with Thad Tarkington
Nov 9, 2023
Thad Tarkington, Founder and CEO of Second Nature, joins Andrew to explore junk fees in property management, discussing their impact on property managers, residents, and investors. They also touch on legislation, challenges in the industry, and the importance of collaboration in maximizing value.
17:56
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Quick takeaways
- Junk fees can have a negative impact on property managers, residents, and investors, and it is crucial to address these charges for the benefit of all parties involved.
- The property management industry should actively participate in shaping regulations and foster collaboration to drive innovation, lower costs, and ensure diverse perspectives are considered.
Deep dives
Defining Junk Fees
Junk fees are defined as fees that have no value or incentives associated with them, and are not transparently stated upfront. They are fees that consumers are required to pay without receiving any benefits in return. Some examples include fees that were not clearly disclosed as a responsibility or fees that are charged for arbitrary reasons, such as a January fee.
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