Property Management Blog

The expected outcome of Property Management in Chesapeake, VA is rental collection. A well written rental collection policy will ensure that thisoutcome is effectively achieved. The first step in realizing the benefits of a rental collection policy is to include this in writing within the lease or rental agreement, and the tenant handbook. Don't start your relationship as a landlord without your lease and the provision of a handbook to your tenant. If you do not have a tenant handbook, an information letter can be provided, which should reiterate the collection policy. Once the policy is communicated in the lease and the handbook or information letter, then highlight the main aspects of the policy verbally. This approach will help to reinforce the message of rental collection and ensure the tenant understands the rules and regulations. With a rental collection policy, one size does not fit all.However, all collection policies should include the following: due date of the rent, payment location, and payment method.The term "jointly and severally" should always be included in the policy to govern the tenants' responsibility for paying the rent. Even if co-occupants have agreements, or there is a special arrangement with roommates, once a tenant resides in a rental, the "jointly and severally" clause will legally ensure that all the rent is paid in full and not in part. Co-occupants and roommates are required to pay the rent in the absence of the tenant. The term "jointly and severally" must be inserted right after the tenants name on the lease, and the meaning carefully explained to the tenant. In all circumstances, seek expert advice from PropertyManagementin Chesapeake,VA.