Notes

Tips and Strategies That Will Save You Tons of Time Collecting Rent
Collect Rent having a
One of the things we recommend as far as collecting rent is that you have a P.O. Box. Most P.O. Boxes at your local tn post office or FedEx store don't cost quite definitely. I get a P.O. Box at my local postal service and below $100 per year. It's like $45 every six months.
That way it is sometimes difficult or even a pain visiting your tn post office frequently, but believe me, you don't wish rent going to your own personal residence. I guarantee that. I would highly, strongly suggest spending a few bucks, obtaining a P.O. Box, and make sure that rent visits that P.O. Box.
The other reason we do that or recommend it is it's possible that you're going to move over many years. You may only move a few miles, but like that you don't need to notify everybody on the globe and your tenants best places to send rent should you move whenever. Now it doesn't matter in the event you move, because they do not even know as well as the rent still visits the P.O. Box.
Collect Rent Electronically
We also advice that you develop a system in place to get rent electronically. We are really building a big push that 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 folks to pay through their checking accounts. You can use as any way to collect it.
Do Not Accept Cash
One of the things we 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 get out there and pick up rent, period. Don't start it. Don't think, "Well, they're paying late this month. If I go understand it I'll solve this problem."
property management richmond are strange animals. I guarantee you that in case you get the rent once, the next month as well as the next month and also the next month they'll expect you to pick-up the rent again. Not only that, but they'll use it as justification. What will happen is they'll say, "Fine, I'll hold back until the landlord comes and picks up."
The third with the month comes, the sixth of the month comes, the ninth in the month comes, and you haven't gotten your rent. You contact and they say, "Oh, I thought you are going to come figure it out. It's here. It's expecting you."
You're like, "Well, why didn't you mail it?"
"Well, you picked it recently!"
Well, this is seem to treat becoming it's your complaint, not theirs. "Oh, the rent's here, you simply haven't come picked it." So they've form of experimented with push the issue onto you.
So then you say, "All right, fine, I'll be there Saturday morning, 10:00." Tenant says, "Fine." You arrive Saturday at 10:00 and nobody's home.
You return home, you call them 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 operate. It's Monday evening and you also've got to run down there again after work. So what happens is that you start starting this vicious circle. Don't do it. Simply avoid them. Don't start it and you also'll never get caught.
What I really suggest is that you ensure you train your tenants to pay electronically or send it inside mail. That way there exists specific and concise instructions on just how to pay their rent, because should you give them some confusion, they'll take that being an benefit from failing to pay.
We certainly accept checks, however, if the tenant pays maybe once or twice an undesirable check, stop that at this point. Make it a policy inside your lease never to accept any checks following your first or second bad check.
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