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Who decides on the
amount of monthly rent? The decision
as to the amount of monthly rent is always
made by the property owner. However, Exit
can be of great assistance in this area by
providing the owner with information on
similar properties which have recently
rented in the area. |
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The goal is to seek the
maximum monthly rental without pricing the
property "out of the market". |
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How
do I know that I will get my rent on time?
The key to receiving tenant rents on time is
to have efficiently screened the tenant's
credit and financial background before
entering into a lease agreement. It has been
consistently proven that tenants who have
handled their past credit and rental
obligations well will continue to do so in
the future. Unfortunately, the opposite of
this also holds true much of the time. |
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Exit has instant computer
access to the major credit reporting bureaus
and can review a prospective tenant's credit
history in a matter of minutes. |
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What happens if the tenant pays the rent
late? Exit has a very strict policy
on rent collections. All rents are due on
the first day of each month. Tenants have a
five-day grace period in which to pay. On
day six, no matter what the reason or
excuse, the rent is late and Exit starts the
necessary Court proceeding against the
tenant. The local Sheriff then serves the
tenant a summons to appear before the Court.
The Court hearing usually takes place
between the 14th and 20th day of that same
month. |
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In most cases the tenant
will have made the late rent payment before
the scheduled Court date. In the rare event
that the Court process must continue, actual
eviction will usually take place during the
timeframes prescribed by local laws. In
Maryland eviction would take place in the
second or third week of the following month.
Eviction is a very unusual event at Exit, as
our pre-lease screening has indicated that
the tenants are people who value their good
credit rating. |
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FAQ’s
by Owner: |
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Will I need to have a security deposit?
All Exit leases will require a security
deposit from the tenant. This security
deposit will be collected from the tenant at
the time the lease is signed. Security
deposits are usually an amount equal to one
month's rent. For those properties in which
pets are allowed, an additional pet deposit
of $250.00 to $500.00 is usually required. |
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At the end of the lease the
security deposit will be returned to the
tenants, plus interest, less any deductions
for lease violations or damage to the
property. |
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Will I be allowed to have pets?
Every property owner seems to have different
thoughts concerning pets. It is a part of
Exit's duties to see that the owner's
instructions are carried out in this area.
For those properties which do allow for the
keeping of pets, there will usually be some
restrictions as to the number, size and type
of pets which will be allowed. An additional
pet deposit of $250.00 to $500.00 will
usually be required. |
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How, when and where do I pay the rent?
All monthly rents are due in advance at the
designated location identified by Exit on
the first day of each month. However,
tenants will be given a five-day grace
period in which to pay the rent. This
five-day period includes weekends and
holidays. Rents not received at Exit’s
office during the first five days of the
month will be considered late and thereby
incur late charges and be subject to
collection action. |
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Rents should be mailed to
Exit, hand delivered through our office mail
slot any time of the day or night, or paid
by electronic checking. Additionally,
members of the Armed Forces can arrange for
the payment of rent directly to Exit by way
of payroll allotments. |
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