What is the best method to detect whether the red rectangle overlaps the black polygon? Please refer to this image:
If your polygon is not convex, you can use tessellation to subdivide it into convex subparts. Since you are looking for methods to detect a possible collision, I think you could have a look at the GJK algorithm too. Even if you do not need something that powerful (it provides information on the minimum distance between two convex shapes and the associated witness points), it could prove to be useful if you decide to handle more different convex shapes.
Christer Ericson made a nice Powerpoint presentation if you want to know more about this algorithm. You could also take a look at his book, Real-Time Collision Detection, which is both complete and accessible for anyone discovering collision detection algorithms.