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REIQ Journal : December January 2009
42 Property Management Rent arrears management By Stacey Holt, Senior Best Practice and Policy Advisor, REIQ Rent arrears management is an important part of any successful property management business. But with Christmas fast approaching and many people feeling varying levels of financial stress, vigilant monitoring of rent arrears is more important than ever. BEST PRACTICE AND sound risk management would strongly suggest that rental arrears management is a daily task for every property manager. One example of a rent arrear management system involves contacting any tenant who is currently four days behind in their rent and providing them with a courteous, professional reminder. Fromyour list of arrears (if any), you should print out tenants who are in arrears by four days or more and take the appropriate action. REIQ Journal December 2008/January 2009