Do you own a commercial property in Provo, UT that you rent out? If so, you're probably able to pull in a pretty penny from it right now.
Provo was recently named the second-biggest "boomtown" in the country behind only Austin, TX. The city's population and economy have both grown dramatically over the last couple of years, and it's helped send Provo real estate prices skyrocketing.
To take full advantage of this, though, you're going to have to be able to get your commercial property's tenants to pay rent on time. Rent collection can be tricky in some cases, which is why it might help to have Provo property managers from a property management company on your side.
Here are several ways in which you can benefit from having property managers who can provide rent collection services.
They'll Remind Commercial Tenants About Rent Payments
It might seem as though it should be simple enough for your commercial tenants to remember to pay rent. But this isn't always the case.
Commercial tenants might get busy and have rent payments slip their minds. A commercial property management company can make sure they remember to pay rent by sending them reminders. It's the most basic rent collection service they can provide.
They'll Send Late Notices Regarding Rent to Commercial Tenants
Ideally, your commercial tenants will remember to pay rent on the first of each month without delay. But there might be times when they fail to do this for one reason or another.
If and when this happens, a commercial property management company can step in and help. They'll send late notices to commercial tenants and advise them of any late fees they might be charged. This might be enough to help motivate commercial tenants to take care of their late rent payments.
They'll Handle Evictions for Commercial Tenants Who Don't Pay Rent
Hopefully, things won't reach this point with your commercial tenants. But there is a chance you might need to evict them from your commercial property for not paying rent for an extended period of time.
In this instance, a commercial property management company can stop providing rent collection services and set you up with eviction services instead. They can guide you through the eviction process and ensure that it's as painless as it can possibly be for you.
Let Us Provide You With Rent Collection Services
When you own a commercial property in Provo, UT, collecting rent should be fun. It should help you put profits into your pockets every month.
But this won't always be the case with certain commercial tenants. They might not pay their rent on time, or they might not pay their rent at all in certain cases.
It'll help to have a commercial property management company in your corner to help. They can deliver the rent collection services you'll need to keep the profits coming in on a monthly basis.
PMI Made Simple would love to set you up with rent collection services. Touch base with us to take advantage of them.