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Emerald Management and Realty Ltd.'s Blog

Founded in 1972, Emerald Management and Realty Ltd. has offered services in the greater Calgary real estate market for more than 35 years.

As a leading provider of real estate managerial oversight, Emerald Management and Realty Ltd. has developed careful protocols surrounding rent collection. Rent collection is one of the most important aspects of real estate management, as it provides the financial returns of any property. Emerald Management and Realty Ltd’s protocols are designed to ensure the swift, efficient, and protected transfer of funds. These policies also minimize the owner’s losses due to tenant non-payment and property vacancy, which allows the owner to profit from the full potential of his real estate investment.First, no payments may be made in cash, as cash is vulnerable to both theft and loss. Rent is always collected in the form of money orders, checks or pre-authorized payment.

Second, rent payments are due reliably on the first day of every new month. Tenants may receive two notices warning them if they are late on their payments, and a mounting penalty is imposed for each day that the sum remains overdue.

As soon as a specific tenant fails to pay the required amount on the first of the month, a collection agent from Emerald Management Realty Ltd is assigned to the case. This agent provides focused attention in follow-up interactions with the tenant, ensuring that the case is handled quickly and effectively. If the funds are still not forthcoming, the delinquent account is labeled overdue and passed on to a proven independent collection agency. In addition, 14 tenancy terminations are delivered after the third day of a tenant’s non-payment.

Third, all rent charges are based upon the findings of carefully completed market spot surveys. In fixing rate amounts, the company also takes into consideration Canada Mortgage and Housing surveys, economic forecasts, and other housing surveys. This practice increases rent fees to the optimal level in an ever-changing market.

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