Fee Maxing Myth vs Reality

Like faxing is basically increasing the customer lifetime value by taking more money from the residents so that both the property manager and the owner have better returns. Doesn't that cause residents to churn and therefore increase vacancy rates? It's a good question. I mean, and there's a few different things to to factor in there. I mean, the first thing I would say is a lot of that ancillary revenue is behavioralbased. A lot of it is based on how they behave. Late fees are the classic example of a behavioral fee. You don't have to pay it unless you pay your rent late. If you want a pet that we're happy to have it, but you got to pay for it. So, the pet fees are the perfect example of this. If you will allow pets and other people don't,