Rent Collection

Rent Collection – Property Management Services

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Fort Worth Property Management

Most property owners who invest in rental property do so to generate rental income. But many of these property owners do not have the time or the inclination to run after tenants every month for rent payments.

When you work with a company like Property Management by Pat Gary, you can sit back and relax because not only will we manage your property and screen and find the right tenants for you, but we will also take care of rent collection.

All tenants will be informed at the time of the signing of the lease that rent is due on the first of every month. They will also be notified of the necessary information regarding the payment options. We offer tenants several payment options for all the properties that we manage. These options include pre-authorized payments, online payments, and payment through cheques and/or bank drafts.

Record-keeping is very important as far as rent collection is concerned. That is why we have a very efficient system in place where every transaction related to your property is recorded. Since our tenant screening process is quite thorough, we hardly have any problems with non-payments or late payments. But if such a problem occurs, we have strategies that we use to ensure rent collection.
A checkbook and cash

Handling Late Payments

We will take the following steps if a tenant does not pay the rent on time:
  • We inform the tenant that their rent is still outstanding.
  • If the tenant does not respond, we serve them with a formal notice of non-payment.
  • If the tenant pays the rent after receiving the notice, no further action is taken. However, if the tenant still does not pay, we will then inform the property owner.
  • If the property owner consents, we then initiate the eviction process.

Eviction

As per the law in Texas, once the landlord gives the tenant a notice to vacate the property, the tenant has three days to pay the rent or leave the property. The three days begin on the date the notice is served to the tenant. The only exception to this rule is if the lease agreement allows a longer or shorter period; otherwise the tenant has to pay or vacate within three days.

From what we’ve observed over the years, most tenants do pay the rent within this period. Those who don’t pay the rent usually leave the property. If they don’t, we can file a lawsuit against the tenant. This is called Summary Ejectment. The court will issue Summons specifying the date and time of the hearing.

It is mandatory for property owners to be present at this hearing. If the court rules in the landlord’s favor, the tenant is required to vacate the property immediately. If the tenant still does not vacate the property, the owner can file for Writ for Possession under which the tenant will be forcefully evicted, and the locks will be changed.

Eviction can be a tedious process, but we are here to help you through it. Call us today for all your property management needs.
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