Notes

Tips and Strategies That Will Save You Tons of Time Collecting Rent
Collect Rent which has a
One of the things we recommend in terms of collecting rent is basically that you use a P.O. Box. Most P.O. Boxes your local tn post office or FedEx store don't cost a lot. I get a P.O. Box inside my local tn post office and it's really lower than $100 per year. It's like $45 every few months.
That way it is usually difficult or even a pain going your tn post office frequently, but trust me, you don't want rent visiting your own residence. I guarantee that. I would highly, strongly suggest spending some amount of money, getting a P.O. Box, and make certain that rent travels to that P.O. Box.
The other reason perform that or recommend it can be it will be possible that you'll move over the years. You may only move a couple of miles, but like that it's not necessary to notify everybody on the planet as well as your tenants where you should send rent if you move each time. Now it doesn't matter in the event you move, because they don't have any idea and the rent still goes to the P.O. Box.
Collect Rent Electronically
We also recommend that you produce a system set up to collect rent electronically. We are really building a big push that way. We are approximately 40 to 45% today that people collect electronically. If you've got a software package you can do that, or you can work with a site called . They allow for people to pay through their checking accounts. You can use as any 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 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 pick it up I'll solve this dilemma."
Tenants are strange animals. I guarantee you that in case you pick-up the rent once, the next month and the next month along with the next month they're going to expect you to grab the rent again. Not only that, but they normally use it as a reason. What will happen is they'll say, "Fine, I'll wait until the landlord comes and picks it."
The third from the month comes, the sixth from the month comes, the ninth with the month comes, and you haven't gotten your rent. You contact and so they say, "Oh, I thought you were going to come figure it out. It's here. It's awaiting you."
You're like, "Well, why didn't you mail it?"
"Well, you picked it recently!"
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 up." So they've type of attempted 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 appear Saturday at 10:00 and nobody's home.
You return home, you contact them up. They don't answer the product until Sunday night, "Oh, yeah, yeah. I got called to work. 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 so you've got to operate on the bottom again after work. So what happens is that you simply start starting this vicious circle. Don't do it. Simply do not do it. Don't start it and also you'll never get caught.
What look at this site suggest is that you simply ensure you train your tenants to pay electronically or to send it within the mail. That way there is certainly clear and concise instructions on just how to pay their rent, because if you give them some confusion, they are going to take that as a possible advantage of not paying.
We certainly accept checks, but if the tenant pays a few times a bad check, stop that at that time. Make it a policy as part of your lease to not accept any checks following the first or second bad check.
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