Rent is Due! Due on the 1st, or Late on the 5th?

A property’s performance is measured by two components. The ability to generate revenue and the ability to control expenses, resulting in the Net Operating Revenue.  Revenue is the product of rent collection. Rental revenue generated by occupancy and related fees are the driving forces for revenue generation. Without effective rent collection, achieving an occupancy goal […]

Adding Up Late Rent Losses

How is an apartment community affected by late rent? Unpaid rent obviously affects a property’s financial performance. It’s lost or at least delayed revenue. Expenses related to unpaid rent start with filing fees, court costs and attorneys.  However, the impact on the property greatly exceeds these financial costs. The amount of time dedicated each month by […]

Show Me The Money, Effective Rent Collection

Rent collection

Contacting residents regarding unpaid rent can be difficult.  To prevent the need for collection calls, we often incentivize timely rental payments.  However, apartment communities continue to have individuals that do not pay their rent on time. Tasking a team member with the responsibity to follow up on the individual with  unpaid rent generally has the […]