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Is There a Correct Way to Collect Rent for my Tampa Rental Property?

by Andrew Dougill | Oct 8, 2021 | Owner Education, Property Management Education, Rent Collection

It seems that collecting rent should be one of the easiest and most basic tasks for any landlord who is renting out a home in Tampa. Your tenant has agreed to pay a specific amount each month, and all of the information on how, where, and when to make that...

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– Understand how to increase your profits and avoid common landlord pitfalls.
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How We Inspect Your Property

We perform a video taped move-in inspection at the start of a tenancy.

At around 90-days after the start of the tenancy, we perform an occupied inspection to check for issues like:

– Unsanitary conditions
– Excessive wear and tear
– Unauthorized occupants
– Unauthorized pets

We take photos to document. If there are issues, we schedule action and subsequent follow-up inspections. Assuming all is OK, the next interior inspection is an Annual Property Review in 6-months or 90-days prior to the end of the lease.

The Annual Property Review (APR) is a written report with photos performed by a licensed home inspection company. The APR goes beyond tenant lease compliance to inspect the major systems in the property (such as roof, plumbing, electric, heating and cooling, appliances, etc.). This is important report for our landlords. Owning an investment property is like owning a car – if you don’t maintain it properly, it will let you down. The licensed home inspector also performs our comprehensive safety inspection at the same time. We want your tenants to be safe in your property, and it benefits you as the landlord because it lowers your potential liability to personal injury claims.

At move-out, we perform another video taped move-out inspection. We bring this back to our office to compare it with the move-in so we can make informed decisions about tenant damages and cleaning responsibility.

All Day-to-Day Operations

• A manager on call 24 hrs a day, 7 days a week, 365 days per year.

• Attending to office visits, daily telephone and email correspondence with tenants.

• Proactive communications with our landlords.

• Liaison with Homeowner or Condo Associations, if applicable.

• Timely rent collection.

• Collection of late rent through various legal means.

• Administering rent through the trust account.

• Periodic inspections of the property to ensure lease compliance.

• Lease enforcement actions with tenants.

• Hand deliveries of legal notices to tenants as necessary.

• Organizing keys for viewings, inspections, and repair vendors.

• Attending to payment of various property expenses.

• Organizing maintenance repairs and quotes.

• Regular follow-up with maintenance vendors.

• Copying/scanning of invoices and data entry.

• Preparing calendar monthly statements for property owners and collating supporting information for the owner’s statement.

• Preparing annual year-end income/expense statements & IRS 1099 Forms.

• Conducting annual rent reviews.

• Processing notices to vacate or to renew a lease term.

• Organizing utilities to be turned on and off when required.

• Conducting videotaped move-in/move-out inspections.

• Lodging security deposit claims (when necessary) in accordance with the Florida Landlord Tenant Laws, F.S. 83.

• Liaison with insurance companies, when authorized.

• Filing evictions “if” necessary.

• Attending court evictions “if” necessary.

• Maintaining a staff of highly skilled and trained professional property managers.

• Maintaining a professional office with the latest in technology and property management tools in our industry.

• Constant ongoing training of staff and cutting-edge knowledge of our industry.

Is There a Correct Way to Collect Rent for my Tampa Rental Property?

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