More landlords and investors are outsourcing their day to day workload to Property Management companies. PMCs are simply more equipped to handle the admin, the complaints, and those pesky late payments. For landlords still considering handing off the management of their property to a PMC, here are 3 tips to ensure you get paid on time.
Reward Early and On-Time Payments
One useful twist on an old standard is to frame up early and on-time payments as a positive instead of late payments as a negative. Consider offering your new tenant a small discount per month for early or on-time payments. You can even add this cost on top of the rent so you don’t lose money when the tenant takes advantage of the discount.
About the author.
Albert is an ex-royal air force photographer. He is passionate about novel writing and creative arts, his work can be seen on Amazon and Opensea. Albert enjoys gaming with his son and records them to replay on YouTube.