While more landlords and tenants are turning to electronic deposits to take care of the rent, there are still plenty of rent transactions that take place using a good old-fashioned paper check. We hear from nervous tenants that say their landlord hasn’t cashed their rent check yet. When tenants write a personal check, it gives…
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Rather than a lengthy and costly eviction process, some landlords are offering a “Cash for Keys” program to get problem tenants to move out. Even the best tenants can run into some financial difficulties, and it’s up to each landlord to determine when to give someone a break and when to start the eviction process. When…
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When it comes to managing rental properties, technology can ease many of the burdensome tasks you face as a landlord. Whether you are seeking a way to electronically remind tenants about the rent due date or set up mobile payments, the convenience associated with improved rent collection technology will transform the way you deal with…
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Many landlords ask that a tenant pay rent for the first and last months of the tenancy when the lease is signed or an agreement to rent the property is made. Asking for the first month’s rent payment makes sense: it covers the current or upcoming month, the first month the tenant will actually be…
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One of the easiest ways to collect rent is by setting up direct deposit rent to the landlord. This makes it easy to collect rent each month because the money is automatically withdrawn from the renter’s bank account into the landlord’s account. Just because something is easy doesn’t always mean it’s a good idea though….
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The rent-collecting process begins even before the resident moves in. When giving a new tenant final instructions about moving in, make sure they understand the contract that was made between them and the property. Their part of the contract is to pay their rent on or before the 1st of every month, and in exchange,…
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Here are 11 tips on how to proceed when your tenants are late on the rent payment: 1. Rent is due on the first, late on the second, and the tenant should be served with a Pay or Quit notice on the fourth. 2. All residents with any amount of rent due are served a…
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