2021 has been a tumultuous year for rental housing providers. Let’s hope that everyone stays safe, our community recoups a mountain of rent debt, and that the new Omicron variant does not prompt lawmakers from instituting more regulations.
In an annual tradition and drawing from what we learned the past year, here is what made our top ten list of resolutions for landlords and property managers to focus on.
I will create or fine-tune a tenant ledger that clearly notes when the rent became due, what the tenant paid, and document any communication about unpaid rent amounts.
When we ask our clients what is owed to them in terms of rent and other fees and dates on which rents became due, we are amazed that many of them do not have that accounting at their fingertips. We need this information in order to file an unlawful detainer (eviction action) and categorize rent owed during key dates.
If an application for rental assistance is denied and you are compelled to go to civil courts to recoup rent debt, a tidy accounting will also prove to be essential. Please get your financial house in order.