Notes

Tips and Strategies That Will Save You Tons of Time Collecting Rent
Collect Rent using a
One of the items we recommend as far as collecting rent is that you possess a P.O. Box. Most P.O. Boxes your local post office or FedEx store don't cost a lot. I get a P.O. Box at my local post office and it is below $100 per year. It's like $45 every 6 months.
That way frequently it's difficult or even a pain going your post office frequently, but remember that, you do not need rent arriving at your own residence. I guarantee that. I would highly, strongly suggest spending a few bucks, receiving a P.O. Box, and make sure that rent visits that P.O. Box.
The other reason perform that or recommend it's it is possible that you're going to move over time. You may only move a few miles, but that way you don't need to notify everybody on the planet plus your tenants where you should send rent in the event you move each time. Now it doesn't matter if you move, because they don't know and the rent still would go to the P.O. Box.
Collect Rent Electronically
We also suggest that you produce a system in position to recover rent electronically. We are really setting up a big push like that. We are approximately 40 to 45% today that individuals collect electronically. If you've got a software package you can do that, or you can use a site called . pop over to these guys allow for folks to pay through their checking accounts. You can use as a potential way to gather it.
Do Not Accept Cash
One of the items we do not do is accept cash. We do not get cash. That is one of these simple rules. Please, please, please not violate this. We do not go out and pick-up 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 that problem."
Tenants are strange animals. I guarantee you that if you grab the rent once, the following month as well as the next month and also the next month they're going to expect you to get the rent again. Not only that, but they'll use it a reason. What will happen is they'll say, "Fine, I'll hold back until the landlord comes and picks it up."
The third with the month comes, the sixth in the month comes, the ninth of the month comes, so you haven't gotten your rent. You get in touch with plus they say, "Oh, I thought you're likely to come pick it up. It's here. It's looking forward to you."
You're like, "Well, why didn't you mail it?"
"Well, you picked it down a few weeks ago!"
Well, this is apparently treat it it's your condition, not theirs. "Oh, the rent's here, you only haven't come picked up." So they've form of tried to push the situation onto you.
So you then say, "All right, fine, I'll be there Saturday morning, 10:00." Tenant says, "Fine." You show up Saturday at 10:00 and nobody's home.
You go back home, you call them up. They don't answer the phone until Sunday night, "Oh, yeah, yeah. I got called to be effective. I'm sorry. I got called to function. I got this or I got that." Now it's Monday plus they've got to function. It's Monday evening and also you've got to own in that area again after work. So what happens is that you start going into this vicious circle. Don't do it. Simply don't do it. Don't start it so you'll never get caught.
What I really suggest is you be sure you train your tenants to pay for electronically or to send it inside the mail. That way there is certainly clear and concise instructions on just how to pay for their rent, because should you give them some confusion, they're going to take that as an benefit of not paying.
We certainly accept checks, but if the tenant pays once or twice an undesirable check, stop that at that point. Make it a policy within your lease not to accept any checks following your first or second bad check.
Website: https://www.sp3realestate.com.au/