We expect and teach renters in Broadway to remit rent on time. Nearly every renter we've ever managed has taken advantage of the grace period at some point during their lease, but we are very persistent about explaining that rent is due on the first day of the month. After the first day of the month, the lease allows for a grace period because sometimes unexpected events can cause the best laid plans to go wrong. If the tenant pays during the grace period, there is no late fee charged to the renter.
If the tenant pays late we collect a late fee to cover the additional costs this imposes on us. It's no more or less work to take one late rent check to the bank than to take a stack of timely checks to the bank.
It is in the best interest of both the renter and owner to come to an agreement to avoid the cost, inconvenience, and time involved in the court process. An eviction can jeopardize a renter’s ability to secure future housing and will impact their rental history and future rental references.
The best way to avoid an eviction process is to start with good tenant screening and background checks. There is a process that can take a number of weeks to evict a tenant. All evictions require a court hearing and an order signed by a judge. Because this process is lengthy, Nesbitt Realty is very swift to act when a tenant is even a day late.
a handy source for landlords in Broadway
- Before you lease out your property in Broadway
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a renter breaks the lease
- How does the property owner get paid?
- How your rental manager handles the association and your community
- How your property management company handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- Broadway property owner responsibilities
- Maintenance, repairs & inspections for your rental property in Broadway
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When owners don't yet know their new address
- Vetting renters in Broadway