Notes

Tips and Strategies That Will Save You Tons of Time Collecting Rent
Collect Rent using a
One of the items we recommend as much as collecting rent is that you have a very P.O. Box. Most P.O. Boxes at the local post office or FedEx store don't cost quite definitely. I get a P.O. Box inside my local tn post office and it's really lower than $100 annually. It's like $45 every few months.
That way it is sometimes difficult or possibly a pain visiting your postal service frequently, but trust me, you don't want rent coming to your individual residence. I guarantee that. I would highly, recommend spending some amount of money, receiving a P.O. Box, and be sure that rent goes to that P.O. Box.
The other reason we all do that or recommend it really is it will be possible that you will move over recent years. You may only move a few miles, but like that you won't need to notify everybody in the world and your tenants where you can send rent if you move each time. Now it doesn't matter in case you move, because they don't have any idea and also the rent still goes to the P.O. Box.
Collect Rent Electronically
We also advice that you build a system in position to get rent electronically. We are really setting up a big push this way. We are approximately 40 to 45% right this moment that we collect electronically. If you've got a software package you can do that, or you can utilize a site called . They allow for individuals to pay for through their checking accounts. You can use as a possible way to collect it.
Do Not Accept Cash
One of the items we all do not do is accept cash. We do not pick-up cash. That is one of these brilliant rules. Please, please, remember to not violate this. We do not just go get rent, period. Don't start it. Don't think, "Well, they're paying late this month. If I go understand it I'll solve that problem."
Tenants are strange animals. I guarantee you that if you grab the rent once, the following month and also the next month as well as the next month they are going to expect you to pick-up the rent again. Not only that, but they prefer it as a reason. What will happen is they'll say, "Fine, I'll wait until the landlord comes and picks up."
The third in the month comes, the sixth with the month comes, the ninth in the month comes, so you haven't gotten your rent. You get in touch with and so they say, "Oh, I thought you're going to come understand it. doncaster property management 's here. It's looking forward to you."
You're like, "Well, why didn't you mail it?"
"Well, you picked it up last month!"
Well, this is their explanation apparently treat it as being it's your complaint, not theirs. "Oh, the rent's here, you just haven't come picked it up." So they've type of attempted to push the challenge onto you.
So then you definitely say, "All right, fine, I'll be there Saturday morning, 10:00." Tenant says, "Fine." You appear Saturday at 10:00 and nobody's home.
You go home, you give them a call up. They don't answer the phone until Sunday night, "Oh, yeah, yeah. I got called to function. I'm sorry. I got called to operate. I got this or I got that." Now it's Monday and they also've got to function. It's Monday evening and you also've got to perform on the bottom again after work. So what happens is you start entering this vicious circle. Don't do it. Simply don't do it. Don't start it and you also'll never get caught.
What I really suggest is basically that you ensure you train your tenants to cover electronically in order to send it inside mail. That way there exists very clear and concise instructions on exactly how to pay for their rent, because if you give them some confusion, they're going to take that as an benefit of failing to pay.
We certainly accept checks, if the tenant pays maybe once or twice a bad check, stop that at that time. Make it a policy in your lease never to accept any checks following your first or second bad check.
Here's my website: http://www.masonre.com.au/