Notes

Tips and Strategies That Will Save You Tons of Time Collecting Rent
Collect Rent having a
One of what we recommend as far as collecting rent is basically that you have a very P.O. Box. Most P.O. Boxes at the local postal service or FedEx store don't cost greatly. I get a P.O. Box inside my local tn post office and it is below $100 each year. It's like $45 every six months.
That way it is usually difficult or possibly a pain going to your postal service frequently, but believe me, you don't want rent going to your personal residence. I guarantee that. I would highly, recommend spending some amount of money, getting a P.O. Box, and make certain that rent would go to that P.O. Box.
check here do that or recommend it is it's possible that you'll move over many years. You may only move a few miles, but that way it's not necessary to notify everybody in the world and your tenants where to send rent in case you move each time. Now it doesn't matter in case you move, as they do not be aware of and the rent still travels to the P.O. Box.
Collect Rent Electronically
We also recommend that you develop a system available to get rent electronically. We are really setting up a big push doing this. We are approximately 40 to 45% today we collect electronically. If you've got a software package you can do that, or you can work with a site called . They allow for those to spend through their checking accounts. You can use as any way to recover it.
Do Not Accept Cash
One of the things we all do not do is accept cash. We do not get cash. That is one of these brilliant 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 understand it I'll solve this dilemma."
Tenants are strange animals. I guarantee you that in the event you pick-up the rent once, the subsequent month along with the next month as well as the next month they'll expect you to get the rent again. Not only that, but they'll use it as being an excuse. What will happen is they'll say, "Fine, I'll wait until the landlord comes and picks it down."
The third in the month comes, the sixth from the month comes, the ninth from the month comes, so you haven't gotten your rent. You call up and they also say, "Oh, I thought you are planning 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 a few weeks ago!"
Well, now they appear to treat becoming it's your condition, not theirs. "Oh, the rent's here, you merely haven't come picked it up." So they've form of attemptedto push the issue onto you.
So you then 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 go home, you contact them up. They don't answer the product 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 and so they've got to work. It's Monday evening and you've got to operate in that area again after work. So what happens is that you start entering this vicious circle. Don't do it. Simply do not do it. Don't start it so you'll never get caught.
What I really suggest is basically that you be sure you train your tenants to cover electronically or to send it inside mail. That way there is specific and concise instructions on precisely how to spend their rent, because if you give them some confusion, they will take that being an benefit from failing to pay.
We certainly accept checks, if the tenant pays once or twice a poor check, stop that at that point. Make it a policy within your lease to not accept any checks as soon as the first or second bad check.
Homepage: https://files.fm/f/7rx53uujev