If you’re a landlord, you know that collecting rent can be a real pain. It’s time-consuming and stressful, especially if your tenants are late with the payments. If you want to make things easier for yourself, contact Manage Your Property. We offer extensive rent collection services for landlords in Toronto and surrounding areas, so you can sit back and relax while we handle the most stressful part of being a landlord with the help of our hands-on property management services.
Do property managers collect rent? If the service is covered by the property management firm, then of course. With Manage Your Property, you'll never have to worry about getting paid on time again. Our team will take care of everything: from the initial collections all the way through the eviction process. If a landlord is too strict with their property rent collection, then they may end up in disputes with tenants. If they are too light-hearted about the matter, then tenants may become more prone to paying later than the designated rent date by taking advantage of the landlord’s kindness. You won’t need to face such dilemmas again as a landlord or property owner.
We believe that every landlord has the right to be paid on time and in full, so we make it our priority to ensure that your tenants are paying on time. If they aren't, we will take steps to collect the money you need while minimizing the inconvenience and stress they experience.
How do property management companies collect rent?
At Manage Your Property, we collect rent in a variety of ways, depending on the type of property and its location:
Payment by check or money order
EFT (Electronic Funds Transfer)
Automatic debit from the tenant’s bank account
Why Choose Manage Your Property
We believe that every landlord deserves an honest, reliable property management company they can trust. That is why:
Our team of professionals is dedicated to making sure tenants are comfortable in their homes—and that landlords have peace of mind knowing their properties are being taken care of by a team they can trust.
We also offer an eviction service if you find yourself in need of one. We'll work with you and your tenant to come up with a solution that works for everyone, whether it's a payment plan or moving-out day.
We offer a full range of property management services not limited to merely rent collection services for landlords.
Our team of experts is dedicated to providing the highest quality service at competitive rates.
Whether you're looking for help with rent collection or need a full-time, on-site property manager, we're here to help!
The first step is to define your goals. What do you want to achieve? How much money do you want to collect? How many tenants do you need to work with? Next, put together a list of any tools or technologies that will help you achieve your goals. Finally, determine which people in your organization will be responsible for implementing the process and making sure it runs smoothly. This will likely include managers, accountants, property managers, and other staff members who are directly involved in the process of collecting rent payments from tenants.
If a tenant’s rent check bounces, we will contact them and give them the opportunity to bring their account current. If they do not make good on the bounced check, we will take the next step in our eviction process.
The amount of time you should give your tenant to pay rent depends on the type of lease agreement you have with them. If you have a month-to-month lease, you can decide how long before eviction proceedings begin. If you have a fixed-term lease that ends in a certain number of months, then eviction proceedings will begin at the end of that term (unless otherwise specified in the lease).
The best way to collect rent is by using a secure online payment gateway. This will ensure that your tenants are paying their rent, and also that you're protected in case of late payments or non-payments.
If the rent has been paid late, we will contact your tenant by phone or email. Further processing will be carried out according to the lease they have signed (including penalty specifications regarding late payments).
If a tenant gives you a bonus check after they move in, you can choose to either deposit it into your account and use it to pay for their rent, or you can hold on to the extra money in case they decide to leave early.
There is no partial payment of rent. If a tenant pays only a portion of the rent, they are considered in default. This means that they are subject to eviction and the landlord may sue them for any damages caused by their failure to pay rent.