Collecting Your Tenant’s Rent
Our goal is to make sure you are paid in full - and on time! Therefore, we prepare and handle the lease documents, lease signing, and rent collection each month. That’s why:
Our residents are required to pay rent online, through their 24 hr resident portal - no more waiting for checks in the mail!
Residents are required to pay by the first day of each month (bank holidays and weekends may sometimes delay rent collection).
Our Accounting team tracks resident payments on a daily basis to ensure we are prompt to respond to non-payments or NSF payments should they occur.
Over 99% of our residents pay their rent each month. But should a tenant not pay the rent due, we have fair but tight rent collection policies in place that comply with state law requirements.
We close out our accounting the first week of each month and then issue your funds by ACH directly to your bank account of choice on the second Friday of each month.
Our Rent Collection Policy:
Rent is due on the 1st day of each month.
We offer our tenants a grace-period until the 3rd day of the month.
If rent is not received before the 3rd day of the month, we initiate our internal collection process.
We send the state-required legal 3-day notice to the resident, prepared on your behalf.
We continue to follow up with the tenant during this 3-day waiting period.
If we have not received the funds due at the end of this 3-day period (excluding holidays and weekends), we will initiate the legal eviction process with our eviction attorney.
We handle the entire eviction process on your behalf and keep you informed throughout the process.
Although it is very rare, if necessary we will continue the legal eviction process, including performing a physical eviction at the property with the local constable.
Real Life Eviction Case Study (and How Expensive an Eviction Can Be!)
