When do I get paid?
Real Property Management Hampton Roads exerts maximum energy the first week of each month on collecting rents. Adhering to trust accounting requirements, we must let rent checks clear before dispersing funds to the owner. Therefore Real Property Management holds off on depositing funds directly into our property owner’s accounts until after the 10th of each month. Additionally, if Real Property Management pays any bills on your behalf, we generally do these between the 1st and 10th of the month, as we need the rent money to make those payments.
Who keeps the late fees?
Collecting late rent is a very difficult job. Even with the small portion of our tenants that pay late we could get away with less staff if all tenants paid their rent on time. And if tenants would just communicate when they don’t pay their rent on time, it would be a lot easier. But as it is, our customer service team must turn into debt collectors and begin a very aggressive regiment to collect money on behalf of our property owners. So, Real Property Management Hampton Roads retains all late fees to help pay for this extra and unpleasant labor.