BRG is an example, and it has nothing to do with collections.

It really isn't a red flag that they'd like to wrap it up early collect their money and move on.

I would ask yourself how much did you pay and is this amount worth hiring an attorney who will charge you probably more to collect it? 

We are a little off on collections maybe 5% of our PLs.

Is there any software out there that simplifies rent collections and general management? 

Alternately since you are in Chicago some now collect a move in fee instead of a deposit or use some sort of security deposit insurance (e.g.

In most cases I’m heavy on tech for turnovers, then tend to be more hands off with various CRM, automatic rent collection, and maintenance request forms after move-ins.

I was planning to collect the security deposit when they sign the lease this week. 

How have collections been for you?

There are pros & cons: little to no effort on my part, little to no control on my part, the location is mostly irrelevant (I have investments in 9 states), you need to be sophisticated (knowledgeable), you have to get access to folks that are creating deal (folks that you develop a trust relationship with!).