Consistently Receiving Rent Payments

The Landlord's Almanac - Landlord Conversations

Title:
Consistently Receiving Rent Payments
Summary:
Cash is king and it is the air that properties need to survive and give returns. One of the best ways to assure that is by doing things that allows consistency in collecting rent payments.
Recorded:
Feb 13, 2020
Host:
Kassandra Taggart
Links:
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Show Notes:
Introduction

Cash is king, Cashflow is the air for a property.

You're not able to pull your money forward then you’ll die in debt.

Credit tells the story of a person.

Are tenant surprised you run a credit check?

What do you tell a person learning to enter the rental market for the first time?

What does poor credit tell about a tenant?

Can an excellent credit score be misleading?

Setting Tenant Expectations

Providing grace in property management

Grace can be in the form of just having hard conversations

The whole conversation about how to handle a tenant wanting to move out.

Do you encourage tenants to pay shelter over other bills?

The shelter is an amenity, not a requirement these days

Communicating clear rules avoids conflicts in many cases

When do you start the eviction process?

Commercial

Lining up the notice for non-payment and turning on/off the bank deposits

Tenant NSF – How do you handle

87% of our tenants pay online now

Cash payments concerns with the tenant

Accepting credit card payment

Commercial

Questions and Answers from the Forum

How do you serve a tenant?

Zillow now charging for listings.

Can we require tenants to clean prior to the show?

What technique do you use to know what to rent your property for?

Do you provide a receipt for the rent?

Can you charge pet rent?

Tenant breaks a lease; can you keep the deposit?

What online program should a landlord use?

The tenant brought a toxic material in the house?

How much should the balance be before we file an eviction?

Commercial

Review of the Landlord Habits

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