Click here to get this post in PDF
When it comes time to pay rent for a place, neither the tenant nor the landlord can do what they want. The middle man should be a property management company. This will help to avoid late payments and other delays. The payment of rent is regulated by law and provides for certain resources provided by the person managing the property. You can also find some companies with hi tech multifamily leasing software that further eases the process of letting and renting transactions these days. The landlord or owner of the property will be kept in the loop by the property manager. This makes the process smoother and easier for everyone involved.
The Rental Payment
Certain guidelines need to be put in place and written in the contract along with a discussion with the new tenant. That is the responsibility of the property manager. As a tenant, what are my obligations regarding the payment of the rent?
- Rent is paid on the 1st of each month unless otherwise agreed upon in the lease.
- The rent is paid in equal installments, except for the last month, which may be less.
If an agreement has not been reached on the terms of payment of the rent, it is the landlord or his representative who must collect the amount of the rent.
How Can Rent be Paid?
You can pay your rent in several ways: by certified check, in cash, by money order or money order, or by any other means accepted by the landlord and property manager. Payment can also be made by money transfer or credit card if the owner is able to accept it.
Note: it is advisable to request a receipt that accredits the payment of the rent each month. In case of a dispute by the owner, you can always have the receipt as proof.
Dialogue With The Property Manager
If for serious reasons, you do not know to whom to pay the rent (for example, because your landlord would have sold the property without notifying you), you can contact the property manager to understand the specifics and to be directed in what you should do. If you are unable to pay the rent for any reason, you must notify the property manager within10 days, indicating the reasons. You should always maintain a dialogue between yourself and the property manager.
Conclusion
If you are a landlord and have hired a property management Montreal company, then you should stipulate where and how the rental payment should be handled. The rental deposit, if authorized, can be made at the property management office in cash, certified check, bank money order (transfer), bank draft, or money order.
You may also like:
Essential Times to Use a Multifamily Property Management Tool
5 Reasons to Hire Good Property Management Services
Image Source: Shutterstock.com
