Spend Less Time on Rent Collection
Reduce the time and effort spent on rent collection with these handy tips.
Delayed rent payments aren’t just an inconvenience. They can lead to legal hazards and dealing with them can waste employee resources. Sending paper notifications can help remind residents to pay their bills on time, but there are other measures property managers also should consider as part of the collection process.
Property Management Minutes recommends transferring to an electronic format for rental payment and notifications. It should include the option to let renters schedule automatic payments so that they never have to worry about forgetting. The site also suggests following up with phone calls and emails. Frequent reminders cut down on the number of hours employees spend on collection tasks.
Sometimes face-to-face confrontation is needed, but not all employees are equipped to deal with this type of interaction. Consider role-playing with current employees during training sessions and with applicants during interviews to see how they would handle these situations. Each staff member should be able to display personal confidence and look a resident in the eye when asking for rent payment.