It's the 15th and I'm 3/4 through getting all rents

It's the 15th and I'm 3/4 through getting all rents

Member since 2018 · 104 posts · 94 votes

As I write this, I have 3 late rents to collect of my 10 doors. All tenants have been contacted and reminded to communicate if there are issues with the unit, jobs or their ability to pay rent/on time. I called and texted each tenant. Collected emails for the ones I didn't have. I found Zenlordpro software to give me the landlord the ability to receive rents electronically and gives the tenant more options to pay rent ACH or by credit card. As well as maintenance reporting without having to physically be there. 

When talking to tenants, empathy towards Covid-19 related issues or layoffs, pay cuts or less hours is a must. These are unprecedented times. Most of my tenants paid on time and if we can collect the last few my units this month, it should make things easier for the coming months. There will be more jobs lost, some will have hardships, some just won't pay due to no teeth in the eviction process. I am thankful, my partner and I have good quality tenants. I hope we can continue to help provide housing in the interesting times.

Regards,

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  • Investor · Houston, TX · Member since 2020 · 7 posts · 5 votes
    6y

    That's incredible to hear Brendan, I'm glad most of your tenants are still paying. There are a variety of ways to incentivize them to pay on time. One major thing I would strongly encourage is to keep an open line of communication and make them feel welcomed. Transparency is key and communication is a must. We have several properties where we collected more in April than we did in March. As this crisis develops, be sure to support and be considerate for your tenants, not just the "landlord". This will build trust and lead to long-term tenants who will not only pay on time but likely treat the property better when the owner was mindful during times of hardship. Congrats again, and I wish you the best of luck during these times!

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