RENT COLLECTION
Collecting Rent For Your Investment
RENT COLLECTION
COLLECTING RENT FOR YOUR INVESTMENTRENT
At Zima Management, we adhere to the principle that if you don't get paid, then neither should we. We're committed to ensuring you receive your rent on time, every time.
Collecting Rent For Your Investment
- Selecting a tenant is a crucial aspect of property management. We understand that placing a high-quality, long-term resident who pays rent punctually and cares for the property benefits everyone involved. Our industry-leading screening process has yielded exceptional results.
- With extensive experience processing rental applications, we precisely discern the qualities of a high-quality resident and identify red flags to avoid. Achieving a remarkable 99.5% rent collection rate and a less than 0% eviction rate annually attests to the effectiveness of our screening process.
- In the rare instance that a tenant fails to pay rent and necessitates eviction, our Risk Mitigation Guarantee covers 100% of the associated legal costs, up to a maximum of $1000.
- Our innovative technology enables prospects to sign up for automatic notifications regarding upcoming rental properties, expediting the leasing process and establishing a virtual "waiting list" for future vacancies.
- During property vacancies, we refrain from imposing any minimum management fee. Our management fee is solely based on a percentage of the actual rental amount collected. Consequently, when your property is vacant, you incur no management fees.
At Zima Management, we adhere to the principle that if you don't get paid, then neither should we. We're committed to ensuring you receive your rent on time, every time.
Our objective is straightforward: to ensure you receive your rent in full and on time. To achieve this, we handle the preparation and management of lease documents, lease signings, and rent collection each month. Our residents are provided with various payment options, from online to in-person, to facilitate quick and convenient rent payments.
The majority of our residents utilize our Tenant Portal to pay their monthly rent, making the process easy and accessible.
We expect tenants to pay by the first day of each month, with a grace period extended until the 3rd day (bank holidays and weekends may occasionally cause delays in rent collection).
With a dedicated Director of Accounting overseeing tenant payments on a daily basis, we promptly address any non-payments or NSF payments that may arise. Our robust tracking system ensures swift action in accordance with state law requirements.
A staggering 99.5% of our tenants consistently pay their rent each month. However, in the event of non-payment, we have stringent yet fair rent collection policies in place, compliant with state regulations.
Our Rent Collections Policy:
- Rent is due on the 1st day of each month, with a grace period until the 5th day.
- If rent is not received by the 5th day, we initiate our internal collection process.
- We prepare the state-required legal 10-day demand notice on your behalf.
- This notice is physically served to the tenant at the property by our team.
- We continue to follow up with the tenant throughout the 10-day waiting period.
If funds are not received by the end of this period, we initiate the legal eviction process with our eviction attorney, managing the entire process on your behalf.
In rare cases where necessary, we proceed with physical eviction at the property with the assistance of the local county sheriff.
But what happens when a good tenant faces financial hardship? Even the most reliable tenants may encounter difficulties. In such cases, we connect them with local aid agencies for assistance. Additionally, our in-house rental assistance program, Zima Cares, provides support to responsible tenants during unexpected financial emergencies.
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