WHAT IS “RENT”?

Rent is defined as a payment by a tenant in regular intervals for the right to occupy the property of another. Rent is a bond between the park owner and the tenant. A plot of land with functioning utilities and reasonable access by roads is offered by the park and the tenant pays for it. The bond between the park owner and tenant is dependent on rent. The park owner has no obligation to provide any service without receipt of rent. Some people think the park owner owes it to them to provide their lot regardless of whether or not they pay, even though they think a landlord that tries to collect the rent is greedy and heartless. This is not true. The landlord doesn’t have to provide their service with non-payment if the restaurant has to serve food without payment or the gas station has to provide gas.

WHY IS RENT IMPORTANT IN KEEPING THE PROPERTY A GOOD PLACE TO LIVE, AND ESSENTIAL TO PAY OUR BILLS?

Rent is the primary source of revenue for the mobile home park. Without revenue, the park can’t pay its bills. How do you keep the park utilities flowing, the roads passable, the grass mowed, and many other items, without the money to pay for them, is a dilemma that parks that consistently show poor collections are faced with. The park owner has to allow things to slide. They may keep the utilities going, but the roads begin to degrade, the mowing gets bad, and anything that breaks remains broken. The best thing that the tenant can do is to pay the rent, so that their community remains maintained and in good working condition. They pay rent for their own benefit. Without rent, the park would close its gates and the tenant would have to find a new place to live.

HOW IS EACH MONTH OF RENT CALCULATED?

Each month, the rent is due in equal amounts. It isn’t calculated in terms of days. The rent in October is the same as the rent in February. If the rent was calculated every four weeks, there would be 13 payment periods each year. Rent is due in equal amounts each month.

The amount of rent is based on the charge shown in the original lease and any amendments or notices of rent increases given since the lease was originally signed.

WHAT CONSTITUTES TIMELY PAYMENT OF RENT?

Rent is due on the first day of the month. Rent can be counted on-time if it is received by the 5th day of the month. Thegrace period is between the 1st and the 5th. Most tenants get paid on the 1st of the month and need time, therefore, to get the rent to the manager, which is why thisgrace period has been in effect for decades.

Any rent received after the 5th is considered late and subject to a late fee, as well as an official demand notice for it not being paid.

If a tenant approaches you to pay rent, you should have your rent roll available to write the date, amount of payment, and the check or money order number on. While the tenant is with you, make sure the payment has the date, tenant name, lot number and is payable to the correct company that owns the property. The payment must be signed by the person making the payment.

If the tenant wants a receipt, you should keep a receipt book with the rent roll. The amount paid, date, type of payment, reference number of check or money order, and balance due should be included in each receipt. Cancelled checks and money order receipts can be used as a form of payment by the tenant. A receipt is not required if the tenant requests one.

WHAT DO I DO WITH THE RENT THE TENANT GIVES ME?

You have to log the payment on the rent roll.

You should follow the procedure designed for you by the corporate office. Managers will take the deposit to the bank. The checks will be mailed to the corporate office. Some managers will be given a check scanner that will electronically deposit money into the bank.

If you mail your checks to the corporate office, be sure to keep a record of the check, the payment amount, the name on the check and the lot number the payment should be credited to, as well as the date they were sent. Payments should always be sent via certified mail.

You will need to take an online class from the bank if you have a check scanner. Instructions on how to set up and use the system will be provided by the corporate office.

Write legibly to complete a bank deposit slip. Try to print with a pen that has blue or black ink. Make sure the company name and account number are correct on the deposit slip.

The date the deposit is made should be written on the deposit slip.

List all checks individually on the deposit slip and include the tenant’s last name and lot number in the first column.

Put the total deposit amount in the section at the bottom of the deposit slip if you add the check and money order amounts.

As soon as the deposit has been delivered to the bank, a fax with a copy of the bank deposit receipt should be sent to the corporate office.

HOW OFTEN SHOULD I DEPOSIT IN THE BANK?

If you have checks, you should deposit them every day. The first week of the month is when you should take the payments to the bank. If you have at least $500 worth of payments in the rest of the month, you should go to the bank. You should mail payments once a week for the rest of the month if you are mailing to the corporate office.

RENT ROLL

A rent roll is a document that the corporate office compiles at the beginning of the month. When payments are received, late fees are accrued, and any move-ins or move-outs of tenants, the manager and corporate office will update the rent roll throughout the month. The Corporate Office uses this for record keeping.

The lot number, mailing address, phone number, and amount of rent should be included in a rent roll.