Creative Methods to Increase Collections

[Troy Green]

It's always extremely helpful to hear other people's ideas / experiences on the best way to have as close to 100% collections as possible. Does anyone have any interesting methods they use that has worked for them?

[Rob Beardsley]

One thing my mentor does is give a $1 lottery ticket to each of his tenants that are current and on time with their rent each and every month. The perceived value to the tenant is greater than $1 and the value to the owner/investor is certainly much higher than the cost of providing the lottery ticket to each tenant.

Good luck!