Let's talk about self storage.

I thought it was illegal to charge credit card surcharge fees and there are fines to penalize those who do it? 

I thought it was illegal to charge credit card surcharge fees and there are fines to penalize those who do it? 

Surcharges must not exceed the swipe fee imposed by the merchants' credit card company. A business must not "profit" from the surcharge by itself; instead, the surcharge must be a dollar-for-dollar passthrough charge imposed on the customer to cover the cost of the swipe fee. There's a legal article on page 234 of the Goldbook that speaks more to this and may be helpful.

I thought it was illegal to charge credit card surcharge fees and there are fines to penalize those who do it? 

Surcharges must not exceed the swipe fee imposed by the merchants' credit card company. A business must not "profit" from the surcharge by itself; instead, the surcharge must be a dollar-for-dollar passthrough charge imposed on the customer to cover the cost of the swipe fee. There's a legal article on page 234 of the Goldbook that speaks more to this and may be helpful.

I thought it was illegal to charge credit card surcharge fees and there are fines to penalize those who do it? 

Thanks for the clarification!!

Surcharges must not exceed the swipe fee imposed by the merchants' credit card company. A business must not "profit" from the surcharge by itself; instead, the surcharge must be a dollar-for-dollar passthrough charge imposed on the customer to cover the cost of the swipe fee. There's a legal article on page 234 of the Goldbook that speaks more to this and may be helpful.

I thought it was illegal to charge credit card surcharge fees and there are fines to penalize those who do it? 

Why not just raise rental rates by the average cost of your credit card processing? Seems like that would help your overall bottom line and avoid the nickel/dime treatment of your credit card customers. 

If I notified my card tenants (majority) and told them I was directly passing the charge fee on to them, they'd tell me to pack sand and then they'd jump ship to my competitors who don't nickel and dime.

Just my .02

Why not just raise rental rates by the average cost of your credit card processing? Seems like that would help your overall bottom line and avoid the nickel/dime treatment of your credit card customers. 

If I notified my card tenants (majority) and told them I was directly passing the charge fee on to them, they'd tell me to pack sand and then they'd jump ship to my competitors who don't nickel and dime.

Just my .02

We charge a convience fee for every card that is used. We have been doing it for a couple of years and our tenants dont complain and the ones that do simply pay with check or MO. Its a convience to use a CC just like David said if you go online even to buy movie tickets your charged a cnvience fee, if I want to order the tickets ahead of time so I dont have to wait or go up to the window I pay it , if I dont then I pay cash at the door its my choice and we give our tenants the same choice and it helps a ton to absorb those fees. 

We charge a convience fee for every card that is used. We have been doing it for a couple of years and our tenants dont complain and the ones that do simply pay with check or MO. Its a convience to use a CC just like David said if you go online even to buy movie tickets your charged a cnvience fee, if I want to order the tickets ahead of time so I dont have to wait or go up to the window I pay it , if I dont then I pay cash at the door its my choice and we give our tenants the same choice and it helps a ton to absorb those fees. 

We charge a convience fee for every card that is used. We have been doing it for a couple of years and our tenants dont complain and the ones that do simply pay with check or MO. Its a convience to use a CC just like David said if you go online even to buy movie tickets your charged a cnvience fee, if I want to order the tickets ahead of time so I dont have to wait or go up to the window I pay it , if I dont then I pay cash at the door its my choice and we give our tenants the same choice and it helps a ton to absorb those fees.