Estate Brokers property management services are here to protect both, our property owners and our tenants. With this in mind, here are the top 5 reasons for paying rent on-time:
Establish a good payment and credit history – At Estate Brokers, tenant payment status is reported regularly to the credit bureau. Credit history remains a key factor in future leasing, home purchasing and credit issuance.
Maintain goodwill with the landlord – Paying rent on-time is the right thing to do, and meeting financial obligations may prove beneficial down the road should a tenant lease again and require a positive reference. Most landlords expect tenants to simply comply with their rental agreement.
Avoid late fees, accrued interest, and legal costs – When rent is past due, a late fee is added in accordance with the rental agreement. It’s also important to note that interest charges may apply and accrue on past due debt. Also, should eviction proceedings be necessary, tenant files are forwarded to an attorney, resulting in an additional charge of at least $405 to cover processing.
Avoid eviction – It’s true! A single month of delinquency can result in an eviction. In this case, not only will the tenant lose the roof over their head, but also their deposit.
Avoid a legal judgment – Nothing makes finding a new place or starting utility services more difficult than having a judgment or eviction on your public record and credit history. Avoid going down this path by communicating early and often with your property manager and by paying your rent on-time, every time.
ACCESS OUR TENANT PORTAL
At Estate Brokers, we’ve made it easy to pay your monthly rent on-time with auto reminders, automatic bill pay, and any time, anywhere access to payment history and records through our tenant portal. Go there now!