Collecting rent in a timely and efficient manner is one of the most important aspects of managing rental properties. As a landlord, you want to receive a quick and painless disbursement of funds every month.
But, as many of you know, this is often easier said than done. That is where LEAP Property Management comes in.
We believe that expectations for tenants should be clearly set from day one regarding all aspects of their rental agreement, but especially the expectations surrounding rent collection. From the very beginning, they are made aware that rent is always due on the 1st of the month and is considered late by the 4th.
For the convenience of your tenants, we accept numerous types of payment methods. Through the use of our online tenant portal, tenants can pay electronically using debit or credit cards, bank drafts, or e-checks. This allows each tenant to pay rent with the method that is best for them.
If a tenant fails to pay rent on time, he or she is issued a 3-day notice to vacate. If by the end of three days they have not paid in full, they will be subject to further action, possibly even eviction.
Based on our results, our approach clearly works. We boast an unprecedented rent collection rate of 96.6% which means that our client’s receive their rent money in a reliable and timely manner each and every month.