Rent Collection Policies
All rents are due on or before the first of the month, without exception. Further, regardless of holidays, weekends or acts of God, any rent received after 9 AM on the sixth of the month will incur a late fee. Mailing the payment does not constitute payment; we must receive it in our office in order for us to accept it as paid. Further, for any rent not received before 9AM on the tenth of the month, there will be an additional late fee incurred by the resident as well as the initiation of the eviction process, referred in Georgia as Dispossessory Procedures. This is a civil action in the State Court and Magistrate Courts in our area. All costs of this process are charged to the resident. State law does not allow for any property manager to directly file the Dispossessory with any court. An attorney must be used to file and prosecute the warrant. Using our considerable joint buying power, we have negotiated some of the industry’s lowest fees for an attorney who specializes in evictions! The court costs and attorney fees must be paid in advance by the owner and are to be reimbursed by the resident when they pay the past due rent. The late fees are paid to the management agent as additional compensation for collecting past due rent. Our management fee is priced for you based upon the resident paying the rent to us at our office and on time.
If after move out, any past due rent or damages result in funds owed from the tenant to the property owner after accounting for all deposits, then McCreary will place an open rental collection account on the credit files of all responsible parties to the lease. Doing so will make it more difficult for them to lease property from another professional management firm or to obtain a mortgage for buying a house.
McCreary is not a post-occupancy collection agency. As such, we utilize the services of National Credit Services to post the collection account and pursue the amounts due the property owners. NCS works exclusively with the residential housing industry, primarily in apartments and are located in Metro-Atlanta. They charge a very reasonable fee only on any amounts they collect.
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What Sets Us Apart
From Other Management Companies
The professionals at McCreary are just that, Professional Real Estate Managers. If you bought your property as an investment, you want the property to be managed to its highest and best potential to produce income and increase in overall value during your ownership period. If you are converting your personal residence into a rental property, then you need to have a management company with experience in assisting property owners with turning the family home into the family business.
Our staff are trained and educated in the policies, procedures and methods of classical real estate management from the very best industry sources. They then convert this training into results for you that fit your goals and objectives in the ownership of the property we will be managing for you. We are not sales agents that just need to have some income until real estate sales improve. We have decades of experience being professional property managers for thousands of owners just like you and will still be here once the sales market improves!