Resources for Landlords

Having a clear collection policy and keeping your records up-to-date can go a long way to preventing your tenants from going into debt in the first place, and makes it easier to recover that debt if they do.

Our free downloadable rental documents can be modified to suite your needs. Click the links below to find out what you can do to protect yourself from outstanding debt.
1) Keep a record of your tenant's information
2) Have a collection policy and enforce it
3) Keep your records up to date
4) Accept only full payments
5) Do not accept cash
6) Act quickly on late payments
7) Free download of sample rental documents

1) Keep a record of your tenants' information
Have your tenants complete a standard information form as part of their rental application, and record name, telephone number, banking information, credit rating and employment or tax records.

This information will be invaluable should you need to seek debt payment in the future, and is easier to obtain when you are on good terms with your tenant.

Download your free sample tenant information form now.
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2) Have a Rent Collection Policy and enforce it
Have a written Rent Collection Policy that clearly explains your expectations regarding when, where and by what method rent payments should be made, and your policy regarding grace periods (if allowable), and bounced/returned cheques.

Clearly explain the consequences of late payment or default in your Policy. Inform tenants of late payment fees, and be clear that you will take action with Suite Collections and/or the credit bureau if rent is not paid on time.

Educate prospective and current tenants about your Rent Collection Policy - inform tenants that late payment is costly to you, and that you will pass this cost on to them. Explain your Rent Collection Policy early in the tenant screening process, and have tenants acknowledge the policy with their signature.

Download your free sample Rent Collection Policy now.
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3) Keep your records up to date
Have your tenants review their application file once a year (on the anniversary of their lease, or at the beginning of each new year), and have them update it if necessary. Take note of changes such as name, telephone number, bank changes and credit rating.

Photocopy your tenants' rent cheques each year, and keep them in their lease file for future reference.

Download your free sample Tenant Information Record now.
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4) Accept only full payments
Do not accept partial payments for rent. Keep your administration simple and insist that a single cheque is submitted for the full amount of the rent. Do not accept separate cheques from roommates.
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5) Do not accept cash
Cash can be lost, misplaced or stolen, and it does not leave a paper trail. Do not accept it for payment of rent. A no-cash policy also discourages undesirable tenants who may be involved in illegal business activities.
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6) Act quickly on late payments
Do not wait to take action on late payments. Send a letter reminding tenants of your rent collection policy and the consequences of late payment as soon as rent is late.

Download your free sample Late Payment Reminder Letter now.

Update the tenant's file immediately. You will need current contact, banking, employment and credit information if you take your tenant to court or pursue payment with the help of a collection agency.

Download your free sample Tenant Information Record now.

Contact Suite Collections immediately if your tenant is in breach of contract. Often a single phone call from Suite Collections is enough to let your tenants know that you take the terms of the rental contract seriously.
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7) Free download of sample rental documents
Tenant Information Record - Customize this standard form, and document your tenants' contact, employment, banking, and credit information.

Rent Collection Policy - Customize this standard policy and inform your tenants of your expectations regarding terms of payment, and the consequences of late payment or default.

Late Payment Reminder Letter - Customize this standard letter and remind tenants of both your Rent Collection Policy and the consequences of late payment.
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