- September 27, 2016
- September 22, 2016
- September 8, 2016
Property managers and rental housing owners have long accepted money orders as a means to get guaranteed funds for rent. However, all too often I hear stories of property management companies dealing with significant amounts of rental drop box theft and money order fraud often totaling thousands of dollars.
Thieves are able to “wash” the money orders in a way that removes the apartment community’s name, allowing them to use the funds for other purposes. The result: owners are not getting rent payments, and residents who paid their rent with a money order may be facing eviction for non-payment.
The most common way a money order goes missing is by rental drop box theft with the use of any type of equipment that usually includes some type of wire with a sticky substance placed at the end. Ensure that your rental payment drop box is as secure as possible – perhaps by first placing it inside the leasing office—or by following these six suggestions:
Learn about the perks and benefits of working in residential property management and some of the reasons the industry provides career growth, stability and endless opportunities.