At Pristine Property Management, we took an immediate proactive approach back in March, regarding how we would work with our tenants based on the state of the market. We started communication with the landlords and tenants, and this has been critical.
COMMUNICATION IS KEY!
The strategy for collection that we used to work with our tenants, is based on communication and the implementation of agreeable terms. We are trying to remain proactive, based on what landlords are willing to allow, while simultaneously assisting the tenant.
EMERGENCY RENT DERERMENT PROGRAM.
We refer to this strategy as an Emergency Rent Deferment Program. We discuss terms of payment with the landlords and then return to the tenant based on the owner’s response. We collect what we can, and the amount that they are not able to pay, for example, rent was $1000.00, they could $300.00, and there was a $700.00 balance, depending on when that lease expires or was due for renewal, we divide that payment over 10 months.
Therefore, $70.00 is added to rent for the upcoming 10 months or if there is the possibility that the landlord can assist them with a portion of the rent forgiven. We look at this as an option as well. Every tenant’s situation is different!
Contact us today to discuss how our Management Services can assist you:
Pristine Property Management, LLC
9480 NE 2nd Ave #128
Miami Shores Fl, 33138.