Best time for payment

[Nadir M.]

Hello everyone,

About to close on my first rental house and wanted to know when the best time to collect payment is? Was thinking first of the month but didn’t know if there was a better time to collect. Also, I’m thinking of using an app to collect the money since the house I bought is out-of-state.

In terms of renting the place, any advice on the best way to find a tenant? I have a couple of ideas I just wanted to make sure there isn’t a better way that I am unaware of.

Thank you

[Nadir M.]

@Jorjio Hopkins thanks for taking the time to thoroughly answer my question, this helps tremendously. Do you manager your own or do you have a PM?