Notes

Tips and Strategies That Will Save You Tons of Time Collecting Rent
Collect Rent which has a
One of the things we recommend as far as collecting rent is that you have a very P.O. Box. Most P.O. Boxes your local tn post office or FedEx store don't cost very much. I get a P.O. Box inside my local mailbox and less than $100 per year. It's like $45 every 6 months.
That way it is usually difficult or possibly a pain having to go to your post office frequently, but keep in mind that, you do not want rent arriving at your own residence. I guarantee that. I would highly, strongly suggest spending some amount of money, finding 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 can be it will be possible that you will move over the years. You may only move one or two miles, but this way it's not necessary to notify everybody on the planet plus your tenants best places to send rent if you move every time. Now it doesn't matter in case you move, because they do not be aware of and the rent still goes to the P.O. Box.
Collect Rent Electronically
We also recommend that you develop a system set up to collect rent electronically. basics are really setting up a big push that way. We are approximately 40 to 45% right this moment that individuals 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 through their checking accounts. You can use as a potential way to get it.
Do Not Accept Cash
One of what perform not do is accept cash. We do not pick-up cash. That is one of these rules. Please, please, please 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 figure it out I'll solve this difficulty."
Tenants are strange animals. I guarantee you that in the event you pick-up the rent once, the following month and also the next month and also the next month they're going to expect you to pick-up the rent again. Not only that, but they prefer it as justification. What will happen is they'll say, "Fine, I'll hold off until the landlord comes and picks it."
The third of the month comes, the sixth in the month comes, the ninth from the month comes, so you haven't gotten your rent. You contact plus they say, "Oh, I thought you're likely to come get it. It's here. It's waiting for you."
You're like, "Well, why didn't you mail it?"
"Well, you picked it down a few weeks ago!"
Well, this is their explanation appear to treat it as being it's your problem, not theirs. "Oh, the rent's here, you merely haven't come picked it." So they've kind of tried to push the issue onto you.
So then you definitely say, "All right, fine, I'll be there Saturday morning, 10:00." Tenant says, "Fine." You make an appearance Saturday at 10:00 and nobody's home.
You return home, you call them up. They don't answer the telephone until Sunday night, "Oh, yeah, yeah. I got called to work. I'm sorry. I got called to function. I got this or I got that." Now it's Monday and they also've got to work. It's Monday evening and you've got to own in that area again after work. So what happens is basically that you start starting this vicious circle. Don't do it. Simply do not do it. Don't start it and you also'll never get caught.
What I really suggest is you ensure you train your tenants to pay electronically or to send it inside the mail. That way there exists precise and concise instructions on exactly how to pay their rent, because should you give them some confusion, they will take that as a possible good thing about failing to pay.
We certainly accept checks, if the tenant pays a few times a poor check, stop that when this occurs. Make it a policy within your lease not to accept any checks following the first or second bad check.
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