At Premier Collection Services, we know how hard it can be for property owners to collect rent. Some individuals may be going through a tough time and are short on funds, while others are consistently late with their payments. Collecting rent is a task that can be draining to handle on your own. That’s why partnering with our dedicated team at Premier Collection Services is such a good idea. We aim to make collecting rent a seamless process for you every month. Today, we’d like to share 4 tips for collecting rent on time.
By making the payment process as simple as possible for your tenants, there’s a much greater chance of getting paid on time. Consider offering an automatic payment option where the rent money can be sent over to you directly from a bank account the same date each month. The automatic payment helps you keep tabs on when you should expect the rent payment, while also helping the renter stay consistent and on time with their monthly rent payments.
Consequences do no good as a landlord if you do not follow through with them. If someone is late with their rent, be upfront with your tenants to let them know that they’ll be assessed a late fee and follow through. If they are late more than once, be sure to make the additional consequences well known. This way no one involved is blindsided when the consequences are applied. Threatening something such as a late fee and not following through enables your tenant to get away with this unsatisfactory behavior and it encourages them to do it again.
There’s nothing better than a tenant that is always on time with their rent. As a property owner, you need to make sure that you keep these renters around for as long as possible. It will make your life a lot easier! Some ways to keep your good tenants around is to offer small rewards, such as a gift card or fruit basket, to those tenants that obey your rules and pay rent on time. These small gestures show your tenants that you care and are appreciative of their respectfulness and timeliness.
The decision should be a no-brainer as a landlord. By partnering with our team, we’ll help you with every aspect of collecting rent. In turn, your stress level will go down when rent is due.
So, if you are struggling with collecting rent on time from your existing tenants, consider these 4 tips to try and make the rent collection process simpler. The best decision you can make is to partner with Premier Collection Services. To learn more about these tips and our collection service, contact us today at (864) 918-0878.
