Rent collection

Rent collection

What is Rent Collection?

Rent collection is the process of charging tenants for occupying the property. Property investors usually use rental comps to determine how much rent they should charge. Afterwards, the landlord will lease the unit to a tenant and the tenant would agree to pay the rent using the methods outlined in the lease. Rent is usually collected monthly but, depending on the circumstance, the landlord can work with the tenant to figure out other payment options.

The rent collected from tenants is used to pay for operational costs and the underlying mortgage on the property.

Nophin can help automate your rent collection.

The Nophin team has written a blog post about how to ensure property investors can collect rent on time, every time. Nophin is the leading software for property investors and landlords. Check out our homepage to see how Nophin can help you keep your rent collection on autopilot.

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