If you own property (or will in the future) your income depends
on renters paying rent. On the first day of the month rent is
due in advance in full for most renters, even if they rent an
apartment, retail store or office space. Owners depend on rent
so that they can pay bills associate with owning property. These
bills include debt service (mortgage payments), property taxes,
insurance and operating expenses. Because Owners depend on rent
they want to make sure all the renters pay rent in full when
it’s due. For this reason, owners are busy during the first days
of the month (you won’t see them on vacation at this time!)
During the first days of the month, owners collect the rent
payments, make sure every renter paid and that every renter paid
the right amount. This process happens on the first of the month
in big real estate companies and small ones! In a big real
estate company, people from various departments including
accounting, property management, administrative and the owner
are involved in the proce