Best time to collect rent

[Nadir M.]

Hello everyone,

I am about to close on my first property, long distance, and had a few questions. I wanted to first ask when the best time to collect rent is? First of the month I’m guessing is typical but didn’t know if there is a better time to collect. Also, what about the method of collecting? I’m thinking of using an app if the tenant is tech savvy.

In terms of finding a tenant, what’s the best strategy to use? Zillow and Craigslist would be my go to. Any other opinions?

I’m also thinking of hiring a property managers since this is an out of state investment. To my understanding, PM’s will end up taking care of everything including but not limited to finding a tenant, taking care of all issues/visits/phone calls, make sure everything is being followed according to the law ie fire detector installed and checked on periodically etc. thoughts?

Thanks everyone