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Collecting rent

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You can greatly improve your chances of making the rent collection process a positive experience by emphasizing your collection policy when your tenant first moves in and by answering for your new tenant all the who, what, when, where, and how questions they may have about their rent payments you collect.

But no matter how carefully you screen your tenants and how thoroughly you explain your rent collection policy, sometimes the inevitable happens, and your tenant is unable to pay the full rent when it’s due. What do you do? Start by issuing reasonable but firm policies when the tenant moves in and enforcing your grace period and late-period policies. Then, if your tenant doesn’t pay the rent or doesn’t live up to their responsibilities under the rental contract, you’re prepared to take the appropriate legal action to regain possession of your property as quickly as possible. Chapter 13 provides more in-depth info to help you collect rent.

Property Management Kit For Dummies

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