If you have ever been a landlord, you’re familiar with all the problems that come from not being able to collect the monthly rent. If your tenants pays his rent late, you have to cover the mortgage payment yourself plus spend time to collect the rent— a costly and irritating procedure. If you have multiple properties, it can become a full-time job. Luckily, we have advice on getting your tenant to pay on time, all the time.
When a new tenant is ready to sign the lease, encourage them to use auto-pay, where their rent is taken out of their bank account automatically. Offer some kind of discount if they choose this option—it’s cheaper than collecting later. If they don’t want auto-pay, they lose the discount. They’re more likely to have their account debited each month automatically if they can save money doing it.
Use text notifications
Text notifications can be put to good use as reminders that rent is due. Set up automatic monthly text notifications, and include a link to pay online.
Incentives can go a long way in motivating tenants, even if the incentives are small.
It costs you money and time to post a late notice on a tenant’s door. Offering a lottery to all tenants who pay on time is cheaper. For instance, offer a drawing every month of a Walmart gift certificate for tenants who pay on time.
If rental payments made through your payment portal are reported to credit agencies, your residents can build a positive credit history. This is a good offer, and the tenants will see you as being on their side.
Create many ways to pay
Tenants are all different, and so are the ways they use money. The more options your tenants have to choose from, the more likely they’ll pay their rent on time.
The online payment option is popular. They can pay when they remember, even from their phone at the mall. Encourage recurring withdrawals, so they don’t have to remember every month. The more options, the more payments will come in on time, and the less complaints you’ll get.
Hire All County® property management
Did you know that property management companies offer options to tenants to make paying their rent easy? That way, you don’t have to go through getting your tenant to pay on time. All County® will do it for you.
We allow our tenants to pay with cash, checks, or money orders. Tenants can also pay rent through the Resident Portal directly from our website that allows them to pay with a credit card, debit card, or e-check.
With all these options, residents are way more likely to get their payments in on time. There’s no cost to the tenant for using the e-check, so that’s what most tenants choose to do.
If you have an investment property and you hire All County® to manage it, we’ll collect the rent monthly, and transfer the payment to you. Then you can check your account through our website’s Owner Portal to see the payment been deposited to your account. You don’t have to do anything.
If collecting monthly rent isn’t on your bucket list, hiring us is a good step. Call All County® today to get a free assessment of your investment property, and leave the money collection to us! (602) 753-0333
What if they still don’t pay?
If your tenants still don’t pay their rent on time, you’ll have to deal with it. If you don’t have a property management company to help you, here is an Arizona government source to check out:
Arizona Residential Landlord and Tenant Act
If you’re looking for a rental property, see our list of available home for rent in the greater Phoenix area at:
Our available rentals