How is rent collected & how often to I receive the rent money?
‘Payment of rent is not discretionary!’ Many agents set up systems of rent collection that allow tenants to choose when and how they pay rent.
Just as the banks deduct your mortgage payment out of your bank account on the day due, so do we deduct the rent from our tenants bank accounts when it’s due. We also collect water usage and any other tenant payments by Direct Debit. Based on industry statistics and agency comparisons, agents that collect rent using only Direct Debit have 1/10th the rent arrears of other agents. That means you are 10 times less likely to have cash flow problems with your investment property. And because we have 1/10th of the arrears of our competitors, our property managers are able to put more time in working to resolve any payment issues with tenants; less problems for you and better resolutions.
Payment to you is the important question and we pay our clients monthly or twice monthly as they prefer. Our money is banked into your nominated bank account as cleared funds so you can draw on it instantly. And we offer the facility of emailed statements or access to your own password protected client portal which allows you to access your past statements, annual financial reports etc.