No Hidden Fees – Transparency Required for Riverside CA Property Managers
No Hidden Fees – Transparency Required for Riverside CA Property Managers
Part 5 of 8-Part Series on Service Guarantees
By Brian Bean
Have you ever received a bill from a service provider that made you do a double-take? You know what I’m talking about – those extra charges that appear out of nowhere with names like “administrative fee,” “processing charge,” or “convenience fee.”
It happens all the time. You hire someone for what you think is one price, but then suddenly there are all these add-on charges that nobody mentioned upfront. Your internet bill, your airline tickets, even restaurant checks – it seems like everyone these days is slapping on surprise fees.
Imagine you’re paying bills and you open the email from your cell phone company, and you find a bunch of unexpected charges on there: administrative fees, carrier charges, document storage premium charge, online account access fee, payment processing service charge, delinquent payment notice posting service fees…
I don’t know about you, but I’m picking up the phone and I’m probably not happy.
California’s Legislative Response
Unfortunately, the property management industry isn’t immune to this problem.
In fact, the subject of hidden fees prompted recent passage of California laws requiring transparency about all fees. Senate Bill 478, known as the “Honest Pricing Law,” took effect July 1st last year, making it illegal for housing providers to advertise prices without disclosing additional REQUIRED fees. And Assembly Bill 2493, which kicked in in January this year, requires that in property marketing and rental applications, all tenant fees must be disclosed upfront.
Seems pretty reasonable.
But we didn’t need those laws to show us the way. We have been disclosing all fees to our investor clients and our residents for years.
If we charge it, it’s in writing. BEFORE they sign an agreement with us. No surprises, EVER. And we publish them for all to see.
Our Complete Disclosure System
- Our property management prices are detailed on our website. When you go to our site, you’ll see a giant orange PRICING button on the home page that takes you to the detailed plans.
- Our new owner clients choose which plan they want when they sign on. All the fees are front-and-center, not buried in the fine print.
- All renter fees are posted in our public lease LISTINGS, at the top of the rental APPLICATION, and then detailed again in their LEASE.
- We even disclose all of our TENANT fees, many of which come to us for our services, to our OWNER clients so that, if applicable, they know and understand what and how much the tenants might be paying in addition to their rent.
All of this is included in what we call our No-Hidden-Fees Guarantee, and the goal is that none of our charges should be concealed.
Why We Chose Radical Transparency
Here’s why we opted to be so public about it:
Informed Decision-Making
If people know the fees and costs in advance, they can make the most informed decisions about which services they want and need from us. That builds trust and contributes to longer business relationships.
Budget Planning
People have BUDGETS. They need to know what to expect each month so that they aren’t caught unaware and THEN can’t pay their BILLS.
Market Awareness
It keeps us CURRENT. It helps us stay in tune with our MARKET so we that can keep our prices APPROPRIATE.
Business Foundation
This is how we maintain and build our business. Happy, satisfied clients stay with us a LONG time. Unhappy people who feel misled, LEAVE and say bad things to other people.
Core Values and the Foundation of Respect
In fact, that transparency in pricing is part of our foundation and, specifically, three of our five core values:
1. Live in the Truth: Always be forthright and transparent.
2. Put the Clients First, Always: Our client’s financial interests are more important than our own.
3. Treat People Right: Because EVERYONE deserves honest dealings.
It All Comes Down to Respect
All three of those values boil down to one common theme: Respect. People want and need to feel respected, and surprising people with fees communicates that:
- You don’t respect them enough to let them make their own decisions about doing business with you.
- It also shows a lack of respect for YOURSELF – your own disbelief in the value that you provide to your clients and customers.
And THAT is the real issue. Not the fees themselves.
People pay for all kinds of things every day. If they see the value in it. But they won’t see the value if it’s hidden.
Have questions about our No-Hidden-Fees Guarantee or any of our other service guarantees? Call Brian Bean directly at 951-314-5402.
You can also find valuable information, with FULL TRANSPARENCY, on our website, dreambigpm.com.
Brian Bean is President of Dream Big Property Management, serving rental property investors throughout the Inland Empire of Southern California. With over 20 years of experience in transparent business practices, Brian specializes in building trust through complete fee disclosure and guaranteed service standards.
Series Navigation:
8-Part Service Guarantee Series:
✅ Part 1: Why Service Guarantees Matter: • Service Guarantees That Reduce Rental Prop…
✅ Part 2: Communication Guarantee: • Communication Guarantee: 92% of Investors …
✅ Part 3: Satisfaction Guarantee: • Should You Sign a 1-Year Property Manageme…
✅ Part 4: Performance Guarantee: • Should Property Managers Be Paid When Your…
Part 5: No-Hidden-Fees Guarantee (you are here)
Part 6: No-Upfront-Charges Guarantee (coming next)
Part 7: Lease Guarantee
Part 8: No-Eviction Guarantee