Prospera Properties

Service · London, St. Thomas & Strathroy

Rent Collection Services
London Ontario

We collect rent, enforce leases, and handle arrears — so you stop chasing tenants and start receiving reliable monthly deposits.

Late Rent Is Expensive. Chasing It Is Worse.

In Ontario, collecting late rent isn't just uncomfortable — it requires strict legal compliance. Accepting a partial payment at the wrong time can void your N4 notice. Missing the 7-day window to serve the notice resets the clock. Small procedural errors cost you weeks at the LTB.

We set up automated collection from day one and enforce the RTA timeline exactly — so you never lose your legal standing and you never have an awkward conversation with a tenant about money.

How We Handle Rent Collection

Pre-Authorized Debit Setup

We set up pre-authorized debit for every tenancy from day one. Rent comes in automatically on the 1st — no tenant transfers, no e-transfers to chase.

Late Rent Monitoring

We flag missed payments the day they're late. You're notified immediately. Nothing sits unreported.

N4 Notices Served Immediately

If rent isn't received within 7 days, we serve the N4 notice — the mandatory first step before filing with the LTB. No waiting, no second chances.

LTB Application Filing

If arrears continue after the N4, we file the L1 application with the Landlord and Tenant Board on your behalf. We know the process and the paperwork.

Detailed Owner Statements

Monthly statements showing all rent received, deductions, and maintenance costs — clear, accurate, delivered on the 5th of each month.

Arrears Recovery Support

If a tenant owes back rent, we document everything and support your claim through mediation or LTB hearing. Paper trail starts at day one.

Day 1

PAD setup

7 days

N4 notice window

5th

Statement delivered

$150

LTB filing fee

Frequently Asked Questions

What happens if a tenant doesn't pay rent?

We flag the missed payment immediately. If rent isn't received within 7 days, we serve an N4 notice — the mandatory first step under the Residential Tenancies Act. If they don't pay or vacate by the termination date, we file the L1 application with the LTB.

How do you collect rent from tenants?

We set up pre-authorized debit from the start of every tenancy. Rent is pulled automatically on the 1st. We don't rely on tenants to initiate transfers.

Do you handle partial payments?

Yes — we record all partial payments and apply them correctly. A partial payment doesn't restart the N4 clock under the RTA. We handle this correctly so you don't lose your legal standing.

What's included in the monthly owner statement?

Gross rent collected, management fee, any approved maintenance costs, and net amount forwarded to you. Clear line-by-line breakdown, delivered on the 5th of each month.

Can you help recover arrears from a former tenant?

Yes. We can assist with Small Claims Court filings for arrears after a tenancy ends. We maintain the documentation trail you'll need — payment records, notices served, and LTB decisions.

Do you charge extra for serving N4 notices or filing LTB applications?

N4 notices are included in management. LTB application filing is a flat $150 administrative fee — just to cover our time on the paperwork. No markup on filing fees.

Stop Chasing Rent. Start Receiving It.

We handle collection, notices, and LTB filings. You get a clean monthly deposit.

Talk to Us →

Or call (519) 697-1227