FAQ: How Does SMART Handle Late Rent?
As a property management company, we hope that the rent is never late. But even top-notch tenants have financial setbacks.
Fortunately, SMART has a consistent rent collection policy in place and a system for screening tenants as well — so, you as a landlord, don’t have worry about late rent very often.
Typically, we call the tenants first to let them know that the rent is late. We are on top of the collection process from the start!
Our rent collection policy reads:
Rent is due on the 1st of each month with a 5-day grace period.
If we haven’t received the rent by the end of the grace period, we will order a 5-day Pay or Quit Notice and assess late fees. We deliver the Pay or Quit notice by hand or certified mail, preferably by hand because then the process moves quickly. This notice is the first semi-official step that’s taken before you go to court and file an eviction.
If the tenant fails to respond to the 5-day Notice, we then order the Eviction. Usually, the 5-day Pay or Quit does get the attention of the tenant.
Bottom line: When you have a rental property, you have a business. SMART will treat that business professionally by establishing processes in procedures.
We’re here to help with all your property management concerns. Give us a call and see why we’re the SMART choice for property management in greater Las Vegas.
