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Collect Rent which has a One of the items we recommend as far as collecting rent is that you have a P.O. Box. Most P.O. Boxes at the local mailbox or FedEx? store don't cost greatly. I get a P.O. Box within my local tn post office and it is under $100 each year. It's like $45 every six months. That way frequently it's difficult or even a pain going to your tn post office frequently, but keep in mind that, you do not need rent coming to your own personal residence. I guarantee that. I would highly, recommend spending some amount of money, receiving a P.O. Box, and ensure that rent visits that P.O. Box. The other reason perform that or recommend it is it's possible that you will move over the years. You may only move a few miles, but that way you don't have to notify everybody on earth and your tenants where you can send rent should you move every time. Now it doesn't matter in case you move, because they don't know along with the rent still travels to the P.O. Box. Collect Rent Electronically We also suggest that you build a system in position to recover rent electronically. We are really creating a big push this way. We are approximately 40 to 45% at this time that individuals collect electronically. If you've got a software package you can do that, or you can make use of a site called . They allow for people to pay for through their checking accounts. You can use as a possible way to gather it. Do Not Accept Cash One of the items perform not do is accept cash. We do not get cash. That is one of these rules. Please, please, remember to not violate this. We do not get out there and pick up rent, period. Don't start it. Don't think, "Well, they're paying late this month. If I go understand it I'll solve that problem." Tenants are strange animals. I guarantee you that in the event you pick up the rent once, the next month and the next month along with the next month they are going to expect you to grab the rent again. Not only that, but they prefer it as being justification. What will happen is https://knappholland26.werite.net/post/2022/10/03/Homes-For-Sale-is-a-Golden-Opportunity-For-Buyers! 'll say, "Fine, I'll hold back until the landlord comes and picks it up." The third in the month comes, the sixth of the month comes, the ninth of the month comes, and also you haven't gotten your rent. You get in touch with and they say, "Oh, I thought you had been going to come figure it out. It's here. It's expecting you." You're like, "Well, why didn't you mail it?" "Well, you picked it up last month!" Well, this is seem to treat it as being it's your trouble, not theirs. "Oh, the rent's here, you simply haven't come picked it." So they've type of tried to push the problem onto you. So then you certainly say, "All right, fine, I'll be there Saturday morning, 10:00." Tenant says, "Fine." You arrive Saturday at 10:00 and nobody's home. You go back home, you contact them up. They don't answer the product until Sunday night, "Oh, yeah, yeah. I got called to function. I'm sorry. I got called to operate. I got this or I got that." Now it's Monday plus they've got to be effective. It's Monday evening and also you've got to run in that area again after work. So what happens is basically that you start entering this vicious circle. Don't do it. Simply don't do it. Don't start it and also you'll never get caught. What I really suggest is you be sure you train your tenants to cover electronically or send it inside mail. That way there's precise and concise instructions on just how to pay their rent, because if you give them some confusion, they will take that being an benefit from failing to pay. We certainly accept checks, but if the tenant pays maybe once or twice a bad check, stop that at that point. Make it a policy inside your lease never to accept any checks following the first or second bad check.