Are You Making it Easy For Your Tenants to Pay You?

As a Property Manager I have numerous responsibilities. One of the most important responsibility for the property owners is to get the rent in on time. I've been in the business for a number of years. I think there are easy ways to get the rent in on time at the convenience of all.

When I sign a lease with a new tenant, I explain that I am easy to talk with. If you have any problems paying the rent, please communicate as soon as you know it. We can always work out a payment plan, that makes both of us happy

The first thing is to provide many ways to pay their monthly rent.

1. I provide them 12 self addressed stamped envelopes.

2. I also provide a deposit ticket for the checking account.

3. Provide a map on how to get to our office. I include the hours, seven days a week.

Also the office telephone numbers are helpful.

4. Provide at least four business cards, one for each of the adults wallets.

The other for their home office, for a relative to promote future business

5. On the lease, I include the office address, multiple telephone numbers, where I can be reached.

6. File folder to put their lease, with other important papers in.

It usually takes two to three months for a new client to figure out which is the most convenient way for to pay their monthly rent.The rent is due on the first of the month, not the fifth of the month. Some people believe they have a five day grace period. If it is not written in the lease that way. I explain it to them for example, stating that if you went to the grocery store, purchased some milk. The store would expect to be paid now, not five days from now.

In most states the have what is called a Landlord Tenant Act. I suggest the tenant get a copy, it is also on the computer. They should put that in their folder, as well. If a tenant is going to be late, I encourage them to talk to their landlord or property manager. For tenants who are chronically late, it is so hard for them to catch up. The late fees are so consuming. Yet, if we don't charge late fees on one tenant, but do on another, it's discrimination.

Thank you for reading my article
frankeckert@cox.net

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