Multifamily owner credit policy template for contractors.
Use this as a starting point before giving apartment owners or property managers payment terms. Adapt it to your trade, state, contract requirements, and attorney guidance.
1. Customer identification
- Legal billing entity
- Property name and address
- Owner, manager, asset manager, and AP contact
- Vendor portal and property code
2. Pre-work approval
- Written work order, purchase order, or contract required before mobilization
- Change orders priced and approved in writing before extra work
- No verbal authorization for work above a set dollar threshold
3. Payment terms
- Deposit or mobilization billing requirement
- Net 15, Net 30, or progress billing schedule
- Approved unpaid A/R cap by customer
- Retainage rules, if any
4. Invoice package
- Invoice, backup, photos, signoffs, daily tickets, lien waiver, COI, W-9, and statement of account
- Submission method and AP email or portal
- Deadline for written rejection reasons
5. Stop-work trigger
- Unpaid approved invoices over the A/R cap
- Missed due date without written cure plan
- Rejected invoice without specific fix list
- Unapproved change-order exposure over threshold
6. Escalation
- Internal contact responsible for follow-up
- Written payment demand timeline
- Attorney review trigger for deadlines, lien rights, or collection action
Important: This template is general information only and is not legal advice.