When rent is late...

Owners, the distribution date will always be the 10th of the month- for us- that means the day it is out the door. However, we would like to remind owners that while we do make it mandatory that tenants bring their rent in on time, there will be times when that does not always happen as we require it to. We know that everyone has stumbling blocks from time to time, but we always encourage our residents to make a budget for their families so that they can get back on track and stay out of debt and further financial troubles. It is a reality of life, illnesses, job loss, and other situations can occur, but we do watch carefully and when we see that there may not be a chance of recovery we will meet with the owner, to provide status. Although we notify owners monthly when rent is late, when we start to see a pattern with no way out for a tenant, we advise the owners of their options at that point and cover the various scenarios – with that information, an owner can make an informed decision as to how they would like to proceed.

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