Property Management: How to Collect the Rent on Time

If you’re a Chandler residential owner-landlord that is just establishing a rental property, you will be thinking about many things. One area that creates a lot of grief among property owners is collecting overdue rents. Once the tenant moves in, having an established set of payment procedures and penalties will help reduce this problem.

Wise Practices with Renters Improve Landlord-Tenant Relations

• Qualify tenants before they move in. As an owner, you may consider things like: the creditworthiness, income and criminal and rental history, of your applicants before they are approved.
• Familiarize yourself with your rights as a landlord; though you must obey all applicable state and federal laws, the law does not require that you rent to everyone.
• Have appropriate late penalties set up for overdue rent, and impose them. If you compromise on this, your tenant will think that being a few days late is okay, and you will have future late pays.
• Let tenant know what is expected of them before they move in. This must be done by legal contract, and reinforce it by repeating it verbally. Tenants perform better when they know exactly what
• the rules are, along with the consequences involved in breaking them.
• Have an understanding of the legal remedies if it is necessary to evict your tenant. With respect to this and other legal issues, please read the Arizona Landlord Tenant Act: Landlord Tenant Act

Property Management Companies Understand How to Manage Tenants

You may a homeowner that does not have the time, or the inclination to perform the above actions. That’s okay; help is available through a residential management service. These services not only manage properties, they manage all interactions with the tenants. For further information on Property Management in Chandler, Arizona, contact:
Desert Wide Properties