Amazines Free Article Archive
www.amazines.com - Sunday, April 14, 2024
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133573)
 Advice (161671)
 Affiliate Programs (34799)
 Art and Culture (73855)
 Automotive (145712)
 Blogs (75614)
 Boating (9851)
 Books (17223)
 Buddhism (4130)
 Business (1330636)
 Business News (426446)
 Business Opportunities (366518)
 Camping (10973)
 Career (72795)
 Christianity (15848)
 Collecting (11638)
 Communication (115089)
 Computers (241951)
 Construction (38962)
 Consumer (49953)
 Cooking (17080)
 Copywriting (6733)
 Crafts (18203)
 Cuisine (7549)
 Current Affairs (20319)
 Dating (45908)
 EBooks (19703)
 E-Commerce (48258)
 Education (185520)
 Electronics (83524)
 Email (6438)
 Entertainment (159854)
 Environment (28970)
 Ezine (3040)
 Ezine Publishing (5453)
 Ezine Sites (1551)
 Family & Parenting (111007)
 Fashion & Cosmetics (196605)
 Female Entrepreneurs (11853)
 Feng Shui (134)
 Finance & Investment (310615)
 Fitness (106469)
 Food & Beverages (63045)
 Free Web Resources (7941)
 Gambling (30227)
 Gardening (25202)
 Government (10519)
 Health (630134)
 Hinduism (2206)
 Hobbies (44083)
 Home Business (91657)
 Home Improvement (251210)
 Home Repair (46243)
 Humor (4723)
 Import - Export (5459)
 Insurance (45104)
 Interior Design (29616)
 International Property (3488)
 Internet (191028)
 Internet Marketing (146687)
 Investment (22861)
 Islam (1161)
 Judaism (1352)
 Law (80506)
 Link Popularity (4596)
 Manufacturing (20914)
 Marketing (99316)
 MLM (14140)
 Motivation (18233)
 Music (27000)
 New to the Internet (9496)
 Non-Profit Organizations (4048)
 Online Shopping (129734)
 Organizing (7813)
 Party Ideas (11855)
 Pets (38165)
 Poetry (2229)
 Press Release (12689)
 Public Speaking (5643)
 Publishing (7566)
 Quotes (2407)
 Real Estate (126697)
 Recreation & Leisure (95495)
 Relationships (87674)
 Research (16182)
 Sales (80350)
 Science & Technology (110290)
 Search Engines (23514)
 Self Improvement (153300)
 Seniors (6220)
 Sexuality (36010)
 Small Business (49311)
 Software (83033)
 Spiritual (23516)
 Sports (116155)
 Tax (7663)
 Telecommuting (34070)
 Travel & Tourism (308304)
 UK Property Investment (3123)
 Video Games (13382)
 Web Traffic (11790)
 Website Design (56919)
 Website Promotion (36663)
 World News (1000+)
 Writing (35844)
Author Spotlight
MANMOHAN SINGH

Digital marketing professional with 8 years of experience. A good listner, Stratgist and fun loving ...more
LEMUEL ASIBAL

Lemuel Asibal is a web content writer who also ventures on writing articles and blog posts about any...more
TAL BARNEA

Tal is an electrical engineer with over 25 years of expertise with hardware, software, mechanical an...more
TUSHAR BHATIA

Tushar Bhatia is the Founder President of EmpXtrack Inc with over 19 years of experience in the soft...more
BRENDA PANIN

Passionate blogger and a great animal lover. ...more


Different aspects related to the process of setting and collecting rents by Leon Grant





Article Author Biography
Different aspects related to the process of setting and collecting rents by
Article Posted: 09/14/2015
Article Views: 148
Articles Written: 640
Word Count: 627
Article Votes: 0
AddThis Social Bookmark Button

Different aspects related to the process of setting and collecting rents


 
Business
Rental properties bring in the income which acts as the lifeblood of the landlord’s business. A downfall in the process of regular rent collection can result in the business to eventually become weak and die.

A proper rent management company would have a regular and proven mechanism of collecting the right amount at the right time each month from the tenants. When appropriately performed, this is what allows all the top real estate investors to attain a higher than average return on investment.

Herein below you would find the different aspects that ensures that the rent setting and collection process is proper and error-free:

Rental rate setting:

Determining the rental rates-There are some important questions that need consideration while determining and setting the rental rates. As the rates for different rental properties are different, so they need a lot of research and analysis before they could be finalized. So for a property manager to achieve it and also maximize the rents, they require to have knowledge of the local market rates and performances. Besides affecting the rental income, your rental rate can also impact the property’s value. The basic goal of the management company should be getting your unit rented as early as possible.

The positioning of the contractual escalators in the lease- Generally the contractual rent escalators permits the rents to be elevated without the requirement of negotiation, any explanation or notice. As the tenants already agrees to this aspect, so it don’t seem to feel uninformed and they actually feel grateful if the firm decides not enforce the full rate hike.

The frequency of increasing the rents- The ideal interval in which the rental rates surveys are performed and the rise in the rent is activated is annually.
Even on occasions of vacancies or lease renewals they hike may be implemented.

Rent Collection:

The process of rent collection- Rent collection is the most important part of a rental process. Dispensation of lesser cheques can improve the cash flow and saves both your time and money. This would help you know that whether the funds are there or not and you can eliminate the possibility of the excuses of cheques lost in mails. Some management companies have the process of direct debit for tenants, this is a great facility that you should look for at first place.

The grace period offered in case of rent due- The standard grace period for rental properties is the second day of the month which can be extended till the third or fifth day. If you keep it short, it would help prevent significant delay in the rent receipt in the event of a holiday or long weekend.

Dealing with bounced cheques- Bounced cheques are actually warning signs for more upcoming trouble from the tenants. So you have to keep an eye that after the first bounced cheque, the tenants are not allowed to write personal cheques until at least six months of good payment history has been established.
Furthermore, a provision in the rental agreement which says that the tenants agree to pay the maximum the law allows for all returned cheques would surely be beneficial.

The process of handling evictions- A proper rental property management service would always follow a process that is well documented for handling with evictions. Though the best course of action varies based on the different situations but these documents help you explain the basic checklist that is ought to be followed.

Leon Grant has performed a series of interview with many property and asset management companies around the world. From all these interviews he established that the demand for rental property management service is huge as they provide all types of facilities required in maintaining properties and assets.

Related Articles - rental, property, management, service,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


TIM FAY

After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
ALEX BELSEY

I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
SUSAN FRIESEN

Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, ...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
SHALINI MITTAL

A postgraduate in Fashion Technology. Shalini is a writer at heart! Writing for her is an expression...more
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
JAMES KENNY

James is a Research Enthusiast that focuses on the understanding of how things work and can be impro...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2024, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license