landlord.
3. A landlord may not accept payment from both a tenant and an insurer for amounts associated with the same rent, fees, or damages.
(3) If a landlord offers a tenant the option to pay a fee in lieu of a security deposit, the landlord must notify the tenant in writing of all of the following:
(a) That the tenant has the option to pay a security deposit instead of the fee at any time.
(b) That the tenant may, at any time, terminate the agreement to pay the fee in lieu of the security deposit and instead pay a security deposit as listed in a rental agreement between the landlord and tenant or, if a security deposit was not agreed upon in a rental agreement between the landlord and tenant, in the amount that is otherwise offered to new tenants for a substantially similar dwelling unit on the date that the tenant terminates the agreement.
(c) That the tenant may choose to pay the security deposit in monthly installments in an amount that is agreed upon between the landlord and tenant while participating in the fee program.
(d) Whether any additional charges apply for the options provided in paragraphs (a) and (b).
(e) The amount of the payments required for each option the landlord offers.
(f) That the fee is nonrefundable, if applicable.
(g) That the fee is only for securing occupancy without paying a required security deposit.
(h) That the fee payment does not limit or change the tenant’s obligation to pay rent and fees, if any, under the rental agreement or limit or change the tenant’s obligation to pay the costs of repairing damage to the premises beyond normal wear and tear.
(i) That if the landlord uses any portion of the fee to purchase insurance, the tenant is not insured and is not a beneficiary of the landlord’s insurance coverage, and that the insurance