Procedure For The Collection, Accounting And Management Of Rental Income ~ Registered Valuers, Estate and Managing Agents, Registered Valuers, Estate and Managing Agents

Procedure For The Collection, Accounting And Management Of Rental Income

We collect rents and service charges from the tenants depending on the agreed mode of payment under the lease. From the rents and service charge we deduct or pay out on behalf of the landlord

Salaries of employees (if any)
Land Rates
Ground rent
Water and electricity bills
Repair costs
Agreed management commission and any other expenses pertaining to the property.

Our Accounts Department prepares computerized statements on monthly basis showing

Rent received
Outgoings and
The net amount payable to the landlord.

To ensure prompt payment, debit notes are forwarded to tenants at the beginning of every month. In case of rent arrears, demand letters are issued and if the situation persists, one of our staff physically visits the tenant to collect the outstanding amounts. In rare cases and as a last resort we, with the consent of the landlord, instruct their Lawyers or Auctioneers to recover arrears if a tenant fails to pay rent for say three months.

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	Registered Valuers, Estate and Managing Agents	Jubilee Insuarance House, Wabera Street, tel: +254-(0)20-2222011 / 330331 fax: +254-20-212389 info@tysonskenya.com

Procedure For The Collection, Accounting And Management Of Rental Income

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Procedure For The Collection, Accounting And Management Of Rental Income