Collection Of Rent
While our application approval process is very thorough, rent collection challenges will always be a large part of property management. Under our lease, all rental payments are due on the 1st of each month and late after the 3rd. We send out late notices, send emails and make phone calls immediately starting the 4th of each month for those who have not paid. The late fee charged is 10% of the monthly rental amount due and is paid to our company as part of our management fee structure. This process takes a lot of time and expense but is worth it to get our landlords paid. If the tenant does not follow through on a promise to pay, then we will alert the homeowner and ask if he/she would like to start eviction procedures. If so, CenterBeam Real Estate will handle sending all duplicate documents to our eviction service. The cost to the landlord is the COST of the eviction which is usually around $490 and takes approximately 27 to 30 days to complete. CenterBeam Real Estate follows strict guidelines from the Florida Landlord Tenant Act in regards to evictions. Fortunately, many of our landlord never have to evict any of their tenants.