RENT COLLECTION AND REMITTANCE
|You’re not renting out your home for a hobby. It’s either an investment or you’re holding for a better time to sell. Either way, collection of rent is the goal, and to Safe Harbor Property Management that goal is mandatory. Our job is to collect rents, account for expenses, and remit the balance to you. State law and other local regulations dictate how this must be accomplished and when funds can be remitted, so check our link here to pertinent legal requirements to which we must adhere.
However, our Auburn, Spanaway, Tacoma, and Lakewood rental property owners can count on prompt collection of rents and remittance to them as legally permitted and scheduled in our rental management contract. All documentation and accounting records are maintained to keep our owners informed and on top of their financial investment in their rental home.
How Much Rent Should You Charge?
There are market rents for similar properties that will influence the amount of the rent you can charge in a competitive environment. We will provide a market rate analysis to assist you in deciding on the rent that is appropriate. Below are some of the factors we consider in advising you on rental pricing:
- Mortgage payment amount
- Annual taxes
- Repairs and maintenance estimates or historic amount
- Allowance for vacancy periods between tenants
- Insurance costs
Our Late Rent & Default Procedures
What we can do on your behalf and on what time schedule is determined by state and local laws, but rest assured that we’re taking the best action at the earliest time that is allowed. Late rent penalties will be enforced and any late charges assessed and collected. Per our rental property management agreement and appropriate laws, we will take action to evict tenants in default on their lease as a last resort. Our job is to maximize your return on your rental investment and minimize non–payment costs.