That said, successful NY landlords usually do the following:- Implement a process for pre-screening and thorough screening of tenants- Use tenant applications and collect as much vital information as possible i.e. credit reports, past landlord references, professional/personal references, financial documents, etc.- Set expectations and share unit rules prior to the application process to weed out disinterested tenants- Deliver notices (notice to comply, late payment, 30-90 day notices, etc.) expeditiously.

I am doing much better in the properties where I have no pm, and the process is almost automated, using baselane to collect rent, good tenants, and few serviceman.If the tenants is not good, pms won't help either, not sure why I kept pms in the first place.

This tenant has always paid rent so there is no rent I am looking to collect at this time.

With flexible terms and fast closings, private lenders make funding accessible to new and seasoned investors alike​​.Plan for Property Management: Whether you manage it yourself or hire a professional, ensure smooth operations by setting clear systems for rent collection, maintenance, and tenant communication.

Learn local landlord-tenant laws, FHA and VA loans, and property management software to streamline rent collection and maintenance.

Yes I understand what you are noting, and I believe on the commercial side of things they are typically not putting their names on the docs like you do for a resi loan but just brokering/underwriting it and collecting a fee as a 1099.

Because instead of collecting one rent check per month, you’re collecting multiple payments from different tenants.

.📌 Accounting & Rent Collection?

I should look at the expenses vs the income (rent collected) and not the selling price of the property. 

I have had to use the RA 3 times in 3 years and every time it has help up to scrutiny and has allowed us to collect for damages, remove people breaking rules, etc.