In today’s changing times, technology plays a larger role in the way we do business. More options are available to us in banking, communication and in collecting the rent from tenants.
Just as every property is unique, so is every landlord and his business. How landlords and property managers choose to collect rent varies greatly depending on experience and circumstances. There are a number of payment methods available for you to choose from when it comes to collecting rent from your tenants.
I always say that "95% of your tenant problems can be eliminated in the screening process." If you're like me, you probably find it difficult to relax when you have vacancies. So getting it rented is the main idea, right? Well, from now on, lets say "getting it rented to a properly qualified tenant is the main idea."
Below is what I call The 5 Steps of Screening Tenants.
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Have you noticed when you go to the supermarket that the prices seem to be going up? How about on your real estate tax bill? Why in the world would you not raise the rent?
Many of us have had difficulty in rejecting interested rental applicants for our properties. Without a system to save you from legal entanglements, wasted time and aggravation, hurt feelings and embarrassment, you are going to be one unhappy and unsuccessful camper.
Having a legal and effective approval and denial system for your rental application process is essential if you are going to last in the landlord business.
Because every situation and applicant is different, it is best to have more than one method of rejecting an unwanted applicant. Unwanted applicants can vary in levels of unacceptability.
