How to Collect Rent on Time, Every Month
Every landlord we know would agree with this understatement: rent is important. Actually, it’s more than just important—rent is like a fertilizer that keeps your rental business growing and healthy. Rent is as necessary to your rental property business as rain is to plants. If only collecting rent was as easy as collecting the rain [...]
Categories: Collecting Rent, How to Collect Rent on Time, Landlord Tips, Managing Tenant Rent Payment, Online Rent Collection, Rental Property Management, Renting and Leasing, Rents and Deposits Tags:
A Survey of Landlords on Rent Due Dates and Charging Late Fees
Ask ten landlords about rent due dates and last charges, and you’ll probably get ten different answers—none of them wrong. The thing about running a rental property business is that you get to establish your own procedures and practices to suit your needs—within the limits of federal, state, and local laws, of course. And if [...]
Categories: Evicting tenants, Landlord and Tenant FAQs, Landlord Tenant Issues, Landlord Tips, Rent Due Dates, Rental Property Management, Rents and Deposits Tags:
When a Tenant’s Rent Check Bounces
While some landlords avoid bounced checks by requiring cash or money orders from tenants, most still accept checks—and the risk that goes with that. Studies show that while the number of online payment options grows, the number of checks being written is declining. Still, plenty of folks pay their bills—including rent—with checks. What are your options [...]
Categories: Bad Checks from Tenants, Landlord and Tenant FAQs, Landlord Tenant Issues, Rental Property Management, Renting and Leasing Issues, Rents and Deposits Tags: check, landlord, online, police, property, rental, tenant
Rent Collection: All the Options
Landlords have many options for collecting rent from tenants—some more secure than others. Take a look at our readers’ tips and decide which is best for you. 1. In person: A dicey choice, for sure, and one of the more old-fashioned methods for rent collecting. Some landlords physically visit tenants and pick up rent, or tenants drop [...]
Categories: How to Collect Rent, Landlord Paperwork and Forms, Landlord Tips, Online Rent Payment, Rent Collection Options, Rental Property Management, Renting and Leasing, Rents and Deposits, Using Direct Deposit for Rent Payment Tags: best, check, landlord, online, property, rental, tenant
Do You Charge Tenant Application Fees?
If one of your New Year’s Resolutions is to increase your cash flow, one way to do so is through application fees. Landlords and property managers use these fees to recover their expenses for background screening, credit checks, and the time it takes to vet a potential tenant. If you’re really lucky and have several applicants [...]
Categories: Landlord and Tenant FAQs, Real Estate Investment Property, Rental Property Management, Rents and Deposits, Screening and Background Checks, Tenant Application Fees Tags: background, best, check, complete, landlord, property, rental, tenant
Automatic Rent Collection: Is it For You?
Rent collecting is the number one headache we hear from landlords. Lots of tenants, it seems, cannot seem to pay on time. Plus, there’s the time wasted making collection phone calls, picking up rent personally, dealing with checks and bank deposits, bad checks, and visits to the post office. More people than ever pay their bills [...]
Categories: Automatic Rent Collecting, Landlord Tips, Rental Property Management, Rental Property Trends, Renting and Leasing, Rents and Deposits Tags: background, check, company, free, landlord, online, tenant
Incentives to Attract Good Tenants
If you’re a landlord with a vacancy or two, fall can be a difficult time or year to fill them. Coupled with the renter’s market we’re in, you could need to think more creatively to turn those vacancies into occupied rentals. Here are some great ideas to try if you want to attract great tenants: Lower [...]
Categories: Attract Good Tenants, Landlord Tenant, Landlord Tips, Marketing for Landlords, Rent Incentives, Rental Property Management, Renting and Leasing, Rents and Deposits Tags: check, free, landlord, property, rental, tenant