You’re not renting out your home for a hobby. It’s either an investment or you’re holding for a better time to sell. Either way, collection of rent is the goal, and to Reign Realty Group goals are mandatory. Our job is to collect rents, account for expenses, and remit the balance to you. State law and other local regulations dictate how this must be accomplished and when funds can be remitted, so check our link here to pertinent legal requirements to which we must adhere.
However, our rental property owners can count on prompt collection of rents and remittance to them as legally permitted and scheduled in our rental management contract. All documentation and accounting records are maintained to keep our owners informed and on top of their financial investment in their rental home.
How Much Rent Should You Charge?
Of course, there are market rents for similar properties that will influence the amount of the rent you can charge in a competitive environment, and you can use the convenient Area Rent Comparison Search in the sidebar on this page to see what other homes similar to yours are charging for rents in the local area.
Using the valuable Costs – To – Rent Calculator in the sidebar, you can enter your costs and determine the amount of rent necessary to break even, and the rent you may be able to charge to realize a certain percentage return on investment.
- Mortgage payment amount.
- Annual taxes.
- Repairs and maintenance estimates or historic amount.
- Allowance for vacancy periods between tenants.
- Insurance costs.
Our Late Rent & Default Procedures
Again, what we can do on your behalf and on what time schedule may be determined by state and local laws, but rest assured that we’re taking the best action at the earliest time that is allowed. Late rent penalties will be enforced and any late charges assessed and collected. Per our rental property management agreement and appropriate laws, we will take action to evict tenants in default on their lease and retain any deposits allowed by law. Our job is to maximize your return on your rental investment and minimize non–payment costs.