Collecting Rent For Your Investment

Security Deposit

Our policy is to collect the same amount as the monthly rent for the Security Deposit, which we will escrow for you. We have also worked with a third party company provider called Obligo (myobligo.com) that is offered through our software platform Rentvin which operates like an insurance underwriter for the SD. Tenants are charged a small non-refundable fee and Obligo will insure the rental against damages and loss of rents, AND they assume the responsibility of going after the tenant for claim, after paying us within 4 days of submitting our claim. This has made us more competitive on the rental market as other PM companies do not offer this feature. Another way that FSR is leading the market with the lowest vacancies!

Rent Collection

All rent is due on the 1sr of each month and is considered late if received after the 4th of the month. Late notices are sent around the 10th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment. At Full Sail Realty, we do not tolerate the delinquent payment of rents. We are careful to explain this policy to new residents in order to avoid any misunderstandings that might arise later. Our rent collections & delinquencies policies are as followed:

• You can expect that we will make every effort to collect rents timely and when due on the 1st of each month.
• We will attempt to contact your tenant if rents are not collected after the first week of each month, and begin contacting them daily after.
• Late fees are charged $25 per day rather than a one time flat fee to give tenants incentive to pay sooner- time is of the essence.
• We will "Hand Deliver" a 3-day notice, (Florida's legal prerequisite to an eviction), if we are not able to make contact with the tenants, or if they fail to follow through with payment arrangements.
• You can expect that we will turn delinquent residents over for an eviction to be filed on or shortly after the 15th of the month. We will prepare all the documents and we will file the eviction on your behalf.
• We will consult with you before filing an eviction as court costs are expected to be paid at this point.
• We do not charge extra fees for eviction of any tenant that we place.