Rent Collection in Maryland
Before you became a rental property owner, you probably didn’t realize that being a landlord would turn into a full-time job. You have many responsibilities, but boosting your monthly income with your tenant’s rent payments makes it all worth it.
What if your tenants are routinely late with their payments or fall weeks behind? Have you ever had a tenant move out unannounced without paying delinquent rent? These nightmare situations impact landlords all over Maryland, but with Tidewater Property Management, you don’t have to be among them.
Rent collection is just one of many rental property services we offer our clients. If you want to enjoy steady cash flow from your tenants without the headaches of collecting rent yourself, we have the solution you need.
To learn more about our rent collection services in Maryland, please call Tidewater today at (443) 548-0191(443) 548-0191.
Options for Collecting Rent
As a rental property owner, you get to decide how to collect rent. Whatever option you choose, make sure the lease clearly states the method (or methods) you offer. Some rent collection options include:
- In person: The benefit of collecting rent in person is that you have the money in your hands immediately. Unfortunately, this is very time-consuming, especially if you have several properties. It might also not be feasible if you live far away from the property you own.
- Drop-off: If you have an office location or you live in the same building as your tenant, you have the option of setting up a rent drop-off box.
- By mail: Snail mail is more convenient than walking door to door to collect rent, but this could lead to further setbacks and complications if delivery is delayed or your tenants attempt to mail you only a partial amount.
- Online: As long as you’re tech savvy, you may be able to set up an online payment portal, which is faster, more convenient, and easier to track than other methods.
- Via a property management company: Why not hand over the responsibility of rent collection to your property manager? At Tidewater, we offer convenient digital payment methods as well as an option to pay by check. You also have online account access to keep tabs on your tenant’s payments and simplify your tax reporting obligations.
Benefits of Rent Collection Services
With so many options to choose from, you might wonder if letting Tidewater handle your rent collection is worth it. Consider the benefits of our services:
- Reduced administrative burden: Your tenant’s rent payments are automatically transferred to you with no effort on your part. This eliminates the need to follow up with tenants, wait on checks to arrive in the mail, or worry whether your tenants’ checks will clear.
- Steady cash flow: When your tenants fall behind on rent, it has a domino effect. Let us handle rent collection to ensure you receive payments on time every month.
- Help with other aspects of rental property ownership: In addition to collecting rent, we also screen tenants, repair and maintain properties, assist with filling vacancies, serve eviction notices, and much more.
Schedule Rent Collection Services in Maryland
At Tidewater Property Management, our goal is simple—to provide exceptional rental property services so our clients don’t have to get entangled in the day-to-day responsibilities of being a landlord. With us as your partner, you will no longer dread the time-consuming task of collecting rent on the first of the month—or deal with the frustration of late payments. Count on us for rent collection services and your rental property business will soar!
To arrange reliable rent collection for Maryland rental properties, request a rental management proposal today!