We expect and teach renters in Winchester to pay rent on time. Nearly every renter we've ever managed has taken advantage of the grace period at some point during their tenancy, but we are very diligent 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 tenant.
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 rental investor to come to an agreement to avoid the cost, inconvenience, and time involved in the court process. An eviction can jeopardize a tenant’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 renter 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 renter is even a day late.
a handy source for rental investors in Winchester
- Before you rent out your rental property in Winchester
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the property owner get paid?
- How your property management company handles the association and your community
- How your property management company handles utilities
- How Nesbitt Realty finds renters
- Insurance matters for landlords using our property management
- How Nesbitt Realty & Management manage keys
- Winchester property owner responsibilities
- Maintenance, repairs & inspections for your rental investment in Winchester
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When landlords don't yet know their new address
- Vetting renters in Winchester