If you are renting out a property which you own or are managing a property being rented out, the matter of collecting rent will be a major concern for you.
To make this regular, monthly task a more manageable one, you should have standard procedures before taking in a renter and while renting out the space.
Make a background check Conduct an informal background check on a potential renter before allowing him or her to move into your place.
Check on a person's employment, previous address, billings, credit standing, and creditworthiness.
This will detect why and when tenants are late with rent.
If the renter wasn't directly referred by a reliable person, find out more during your initial talk to get an idea of this person's lifestyle and habits.
Weigh whether you two can get along and whether your tenant can abide by the policies you set.
Set the ground rules Early on, you as the landlord should set the ground rules and implement it consistently.
Lay down details on how you would like the payments to be, how often they will be collected, and what happens when tenants are late with rent if ever they go beyond the grace period and all your personal graces.
Agree on a mutually reasonable and achievable date for collecting rent.
Rules should apply to all your tenants and must be put in writing.
Furnish each tenant with a copy and have it signed and received.
You can always refer to this if ever a problem arises.
Say what you mean If your tenants are late with rent and neglect or fail to fulfill his part of the bargain, make some follow-up calls.
In the first place, a conscientious tenant would have made the first move to approach you if he or she foresees not making the rent payment on time.
If the tenant has been consistently paying on time and in full for the past 6 months, it would be humane and reasonable to disregard the delay in payment for now.
However, do not allow this to become habitual and a special consideration every time.
Mean what you say If the problem persists and certain tenants are already defaulting through non-payment, issue them with reminder notices.
Document these with date, time, and signature.
It may take several tries before the tenant positively responds with an actual payment especially when the person has difficulties financially.
Should the tenant evade you or blatantly refuse to pay up, proceed with an eviction notice based on your state laws.
Not every landlord is heartless and longs to go through this bothersome and expensive ordeal.
However, this could be your only way of collecting the rent that is due you or the one you are managing the place for.
It's all part of the job and nothing personal to it.
It could ease the way for a delinquent tenant to vacate the space and let it be leased to a safer, better tenant.
Your other tenants could learn from the experience that you say what you mean and mean what you say.
To make this regular, monthly task a more manageable one, you should have standard procedures before taking in a renter and while renting out the space.
Make a background check Conduct an informal background check on a potential renter before allowing him or her to move into your place.
Check on a person's employment, previous address, billings, credit standing, and creditworthiness.
This will detect why and when tenants are late with rent.
If the renter wasn't directly referred by a reliable person, find out more during your initial talk to get an idea of this person's lifestyle and habits.
Weigh whether you two can get along and whether your tenant can abide by the policies you set.
Set the ground rules Early on, you as the landlord should set the ground rules and implement it consistently.
Lay down details on how you would like the payments to be, how often they will be collected, and what happens when tenants are late with rent if ever they go beyond the grace period and all your personal graces.
Agree on a mutually reasonable and achievable date for collecting rent.
Rules should apply to all your tenants and must be put in writing.
Furnish each tenant with a copy and have it signed and received.
You can always refer to this if ever a problem arises.
Say what you mean If your tenants are late with rent and neglect or fail to fulfill his part of the bargain, make some follow-up calls.
In the first place, a conscientious tenant would have made the first move to approach you if he or she foresees not making the rent payment on time.
If the tenant has been consistently paying on time and in full for the past 6 months, it would be humane and reasonable to disregard the delay in payment for now.
However, do not allow this to become habitual and a special consideration every time.
Mean what you say If the problem persists and certain tenants are already defaulting through non-payment, issue them with reminder notices.
Document these with date, time, and signature.
It may take several tries before the tenant positively responds with an actual payment especially when the person has difficulties financially.
Should the tenant evade you or blatantly refuse to pay up, proceed with an eviction notice based on your state laws.
Not every landlord is heartless and longs to go through this bothersome and expensive ordeal.
However, this could be your only way of collecting the rent that is due you or the one you are managing the place for.
It's all part of the job and nothing personal to it.
It could ease the way for a delinquent tenant to vacate the space and let it be leased to a safer, better tenant.
Your other tenants could learn from the experience that you say what you mean and mean what you say.