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Updated over 6 years ago on . Most recent reply

User Stats

74
Posts
25
Votes
Nick Monge
  • Rental Property Investor
  • Denver, CO
25
Votes |
74
Posts

Best way to collect rent from a MHP?

Nick Monge
  • Rental Property Investor
  • Denver, CO
Posted

I'm considering buying a 38 Unit mobile home park.. 33 of them are occupied, 5 vacancies.. 

The current owner (an older man) knocks on the doors to receive rent.. I wouldn't do this, but he says they're all trustworthy tenants and he's never had a problem..

What's a better way of doing this?? I am out of state. Actually, half way across the world..

TIA!

Most Popular Reply

User Stats

186
Posts
173
Votes
Ryan Groene
  • Specialist
  • Cleveland, OH
173
Votes |
186
Posts
Ryan Groene
  • Specialist
  • Cleveland, OH
Replied

3 ways to collect. 

1. Have them give rent to manager and manager either deposits into the bank or into whatever program your using

2. Have them mail check or money order to PO box and do the work yourself. 

3. Have them set up on automatic payments or using a program where they can either deposit it at a bank, online, or another payment station. 

Easiest and most scalable is the 3rd option. 

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