Rent Collection
At CDP Properties, we take the stress of the rent collection so you can relax. Collecting rent is easy if you have the perfect tenant who pays on time, but what if you don"t?. Having someone in your corner who knows tenant law and the proper notices to send is critical. If a tenant has gone beyond the grace period we provide them with a late rent notice, where we recollect appropriate late fees along with the normal rent amount. Rent payments are due on the first of each month. Tenants can sign up to automate their rent payments through their bank accounts. Additional payment options can be discussed prior to signing the lease agreement.
We pride ourselves on our meticulous record keeping of all your income and expenses incurred on your property. While our tenant screening process allows us to minimize any unpleasant situations, in rare cases we get some situations where tenants fail to complete payment within the prescribe time. At CDP Properties we use a combination of tact, compassion and due process to approach such issues.
How we Ensure Rent Collection
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As a first step, we contact our tenants to update them on the situation. Depending on how late they are, we serve formal notice of non-payment, Following due process allows us to be equipped with the documentary proof in case the situation ends up in court.
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If a tenant complies and makes the payment, we need not notify you. However, if the tenant fails to pay rent after the standard steps have been taken in such cases, we notify the owners to seek approval to initiate the eviction process.
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In cases of non-payment a "10-day demand for rent" is issued. Most tenants are able to to comply and make the payments. If not, the next step is to file a "summary Ejectment" in small claims court.
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In court issues a "summons" to the tenant for a court hearing. The summons includes the date, time and location of the court hearing. The hearing date is usually within two weeks of the issuance of the summons. At this stage the tenant has the option of making the payment or choosing to vacate property.
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If the tenant chooses not to pay and attends the court hearing, we take care to provide evidence of all steps taken to encourage the tenant to make payments. All property owners are required to be present at the court hearing.
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If the tenant fails to pay rent or justify it, the court awards the plaintiff the "judgement for Possession" which means that the hearing is in our favor and gives the tenant 10 days to vacate the property. After receiving judgement for Possession, we have 10 days before we can file "Writ for possession" which is a document that we can present to the County Sheriffs Office to authorize them to remove the tenants from the property.