1. Collection Policy / FAS Processing

2. When should you begin the collection process?
BEFORE MOVE-IN!

3. Collections 101:
Call
Send notices
Knock on doors

4. Who’s responsible? The consistent enforcement of the rent collection process is one of the primary responsibilities on the manager. Financial success depends on prompt, efficient collection of ALL receivables.

5. Rent collection Rent is due on the 1st Rent is late after the 3rd
1st late notice goes out on the 4th & placed on the inside of the apartment door
Walk all delinquent units before the 9th
File eviction on the 10th
Best way to collect is through phones, notices, and personal visits
All notices should be copied and placed in the resident file
All monies collected are to be posted and deposited DAILY

6. Rent policy No personal checks after the 3rd
No cash, no cash, no cash, no cash
No partial payments
No deals, no payment arrangements, no preferential treatment
No waiving of late fees
No promise to pay without PMT approval

7. Returned checks
Notify resident of returned check and post the associated fees in Onesite
Resident must replace within 48 hours with a money order or cashiers check ONLY
6 month penalty first time
No more checks after second time
Remember to check unit for vacancy
Failure to comply with the notice subjects the resident to legal action
Don’t forget to block Paylease access

8. Does everyone have their resident sign a payment policy agreement?
You should be! It’s hard to dispute what you have in writing.

9. Evictions not filed by the 15th should have written approval from your Regional Manager.
us… follow-up!

10. Eviction checks Checks should be rotated using your oldest first
NO stale dated checks
Submit new requests every days
Return any unused checks in weekly packet- voided
Use your credit card when possible

11. What Happens Next The Move out:
Make sure to document all items turned in at move out, if any. (ex: keys, access keys, pool passes)
Move the resident out of onesite on the day they turn over possession of the apartment
Submit a work order to put unit on a blue lock as soon as possible – very important!

12. Move out Procedure The Walkthrough:
If the resident wishes to be present for the move out inspection we are REQUIRED to let them.
Make sure to take pictures of ANY damages that you find (be sure to check inside of all appliances, cabinets, and outside storage areas)
Be mindful of what you say during the move out inspection.

13. FAS – What Accounting Needs
REFUND –
3 copies of FAS
1 copy of Move In/Move Out Inspection
First and last page of Lease Agreement
OWES –
Send Complete File with 2 copies of FAS
and Copies of Pictures of charges
Be sure photos are attached to the file and/or ed to
in the following format: (example)
PHR – Apt #313 – Smith
*Do not send to an individual . The appropriate team members have access to the
Collections account.
** Please remember to organize your weekly packets so items are
given to the right department**

14. Former Residents with Balance Due
A letter to all former residents with balance due is mailed out within 30 days of receipt of the FAS. The letter states that if they have a dispute with the charges, they are to contact the property manager within 14 days.
You can avoid disputes by having the proper documentation in the resident file – pictures of any charges for damages, lease, move out inspection, addendums, etc.
The letter also states that they must remit payment to our home office within 30 days of the date of the letter.
Any questions- refer to Collections. Yvette Cruz is the AR/Collections contact.

15. What to Charge Skips: Rent until moved out of Onesite
forfeit deposit (must do BEFORE closing account from the deposit ledger)
Early Termination fee (equal to 2 months rent)
Insufficient notice fee (equal to 2 months rent)
Concession chargeback
Damages
Evictions:
Rent until moved out
Early termination fee
ANY concessions

16. WE HAVE THIS POLICY FOR LEGAL REASONS !
Move out Procedure
Completing the Final Account Statement :
Once you move a resident out of Onesite how long do you have to complete the FAS? days
The law states that we must have the final account statement and/or refund in the mail to the previous resident WITHIN 30 days of move out
WE HAVE THIS POLICY FOR LEGAL REASONS !

17. Move out Procedure CARPET: How long is the life of carpet?
* years is our expectation
How much do I charge?
When charging a resident for replacement of carpet you should use the CURRENT cost of carpet divided by 5 years and then multiplied by number of years LEFT on the carpets life

18. Move out Procedure Damages vs. Normal wear and tear Wear and Tear:
Broken blinds
Pet damage
Apartment cleaning
Holes in drywall
Broken window(s)
Wear and Tear:
Traffic marks on carpet
***BE SURE TO CHECK THE INVENTORY AND CONDITION FORM BEFORE CHARGING ***
Not charging is like throwing money away