What happens if the tenant does not pay their rent?
Rent is due on the 1st day of each month, and only penalized after the stated grace period on the lease agreement. On the applicable date, RPM Premier serves three-day pay or quit demand notices notice to a delinquent tenant. If the tenant does not pay by the date served in the notice, we contact the owners to see if they would like to start eviction process. We will guide you as to what steps you should take and whether or not you should proceed with eviction.
The typical eviction fee varies from $700 – $1500 for attorney fees and $80-$180 to serve the tenants, both are costs that are passed onto the tenant. Sometimes tenant rental deposit are sufficient to cover the costs, other times we have to get a judgment against them and begin collections.
What is Eviction Protection?
A change in circumstance can have a drastic change on people’s ability to pay rent, despite their good intentions. Our strict tenant-screening procedures aim to minimize the risks associated with delinquent tenants, but there is always a small chance that a tenant may get evicted. Rather than take the risk of an expensive and unforeseen eviction, tenants prefer peace-of-mind that comes from budgeting an annual flat amount. If this is something you are interested in, we can certainly include it in your property management contract.
Contact Real Property Management Premier
Our property management strategy is guaranteed to save you money at every stage of the process. We make it easy to protect your investment, minimize costs, and maximize your income—without interrupting your daily life.