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Updated over 7 years ago,
Not wasting time trying to collect rent
Hey All,
I'm new to Bigger Pockets and this is my first question. How do I get my tenants to pay on time in one shot. Now before you go off and say the obvious, let me give you a background. I have 156 multi-family apartment units spread over 21 buildings. The tenant demographic is largely working class Hispanic, who typically live week to week. Now while 96 percent of these tenants pay within the month. My biggest problem is im wasting to much time knocking door to door, calling, texting, exhausting all efforts even the sit and wait for them to come home cause their avoiding you method to collect rents.
So basically I'm wondering if anyone has tenants or has had tenants like this, what have you done or implemented in your rent collecting methods to make it more efficient. I've done late fees, 5-day notices, drop boxes, mailing addresses, and I'm assessiable 24/7. I'm looking for solutions so I can get my rents without having to go through the lengthy eviction process.
Any and all advice is greatly appreciated.
Thanks,
Cramer