Rent Collection

Ensuring On-Time Payments & Protecting Your Income

Collecting rent is simple when tenants pay on time—but when they don’t, it’s critical to have a professional property management team that understands tenant laws and handles enforcement properly. At Superior Property Management, we take a structured and legally compliant approach to rent collection, ensuring consistent cash flow while protecting your investment.

Rent is due on the 1st of each month and is considered late if not received by the 5th. According to Minnesota Statute § 504B.177, landlords can only charge a late fee if it is agreed upon in writing, and the fee cannot exceed 8% of the unpaid rent. Our lease agreements clearly outline these terms, ensuring tenants understand their payment obligations upfront.

If a tenant goes beyond the grace period, we issue a formal late rent notice, including the past-due balance and applicable late fees. Our team follows up promptly to collect payments while complying with Minnesota landlord-tenant laws.

We take swift action to minimize financial risk for tenants who fail to make payments. If necessary, we initiate the eviction process, handling all required notices and legal filings while working to re-rent the property as quickly as possible. Our goal is to reduce income disruptions and secure a qualified replacement tenant should an eviction become necessary.

To encourage on-time payments, we provide tenants with a secure online portal to pay rent 24/7 via ACH, debit, or credit card. Online payments ensure faster processing times and quicker owner disbursements, allowing you to receive funds without delay.

Superior Property Management provides a reliable, efficient rent collection system that keeps your rental income predictable and your investment protected.