Rents, New Tenants & Notices
Our rent cycle is fairly simple and it starts late in the month any by the 10th, we received payments from 98% of the tenants, logged those payments against the bills, banked the funds and issued notices to the delinquent tenants. We use the funds to pay the mortgage, property taxes and utilities so without the funds, we'd be out of business!
Success here is about understanding the steps in the rent cycle and executing them on the prescribed dates as required. If a tenant wants to share their personal story about why their rent is late the manager (if they have time) should listen politely and explain they are very sorry but we apply the rules equally to everyone and there are no exceptions. If the tenant has not made a payment and the cure period has expired, the manager will take the initiative to contact the offsite manager and request the file is turned over to the park attorney.
Get the rent bills distributed to the tenants in the last few days of the month
Empty the rent box at the end of each day, through the 6th
Log all payments received in Rent Manager by the close of business on the 6th.
Charge late fees to all tenants with a balance
Collect the remaining rents by the close of business on the10th
Make a deposit
Issue a notice to quit for non payment to any delinquent tenant on the 11th
If payment is not received by the end of the cure period, ensure the tenant is referred out to the park attorney