As a landlord, one of the most common complaints about tenants is the rent check being late. In some cases, there are circumstances where the tenant just simply is not able to get you the payment on time. But how do you handle those who are consistently late with the monthly rent check? There are actually (thankfully) a couple of easy solutions to this issue.
One way is to allow your tenants to pay their rent online. For many people today – and especially those who are Millennials who do just about everything from their smart phone or a computer – paying bills online is much more convenient. Because of this, it can oftentimes raise the likelihood that bills will be paid on time.
Setting up an online mode of communication with your tenants can also make it easier for you to send reminder notices about when the due date for the rent is approaching. With a more open mode of online communication, you can also provide a way for tenants to regularly access all of the information that they need, such as how much rent is due, when the grace period ends, and how much the penalty will be for sending the payment in late.
Another way to increase the likelihood of receiving your rent on time is to improve the screening process you use to qualify tenants. This should include making contact with their prior landlords, as well as verifying their employment status and income.
Ensuring that you get paid each month can sometimes take a bit of extra effort. If added time is something that you just simply don’t have, though, working with a property manager could be a viable solution for you.
An experienced property management team can market your property, screen your tenants, and collect the monthly rent check – allowing you more time to concentrate on other things. For more information on how a property manager in Orlando and the surrounding Central Florida area can benefit you, give us a call.