Setting And Collecting Rents

Rent is the ultimate reward of a rental business. Setting the right amount for rent and collecting it on time is of prime importance for a property owner. But what factors decide the right rent? Let us look through the importance & mechanism of setting and collecting rent.

• Setting the Rental Rate

It is important to run a deep market research and set an optimum rental rate according to the true value of the property. The rent rate also depends on the location of the property, amenities provided at the unit, and the current rental trend. The rate will vary depending upon if the property is furnished or unfurnished. It is advised to do a thorough market analysis at least once a year, specially, in case there are vacancies or lease renewals.

• Contractual Raise in the Lease

Make sure to add a stipulation regarding rent raise in the lease. Tenants will be well aware of the rent hike beforehand which will avoid disputes between the tenant and the owner. All rent raises or unexpected charges should be communicated well in time to the tenants. This ensures a constant flow of income without any disruption.

• Rent Collection

To ensure a seamless flow of rent, it is essential to set a particular date for collection. It is also advised to put a penalty clause in case of missed or delayed rent in the rental agreement. As an owner, one can also hire a property management agency for taking care of all the responsibilities and work entailing rental business. The agency collects rent on the behalf of the owner and transfers the amount to the owner. Once contracted, the property management agency ensures that the rent is collected on time and there is no loss of rent.

Hunter Rentals & Sales offers incredible range of rental services including tenant screening, property marketing, rent collection, lease draft and enforcement, property inspections, etc.The agency offers access to an online portal & a secure channel via which the tenant can make payment and the owner can track the rent payments from anywhere. The property management agency works dedicatedly to offer high quality property management services at competitive prices.

To avail our services, you can visit us at 1503 W Stan Schlueter Lp Killeen, TX - 76549. Hunter Rentals& Sales provides property management services near Ft. Hood, including Killeen, Harker Heights, Copperas Cove, and Belton. For further information check out our website www.hunterrentals.com