5 Property Management Tips to Eliminate Tenant Debt
Residential Rent Property Tenant
What should you do if your tenant owes you rent?
According to Intuit’s “Get Paid Survey“, 22 million of the nation’s smallest businesses are waiting for $1,500 in overdue payments each month, creating a collective $33 billion strain on their cash flow. Although $1,500 in overdue payments may not be a big deal for some, it certainly could make or break deal some small businesses.
That’s why it’s important for Landlords, property managers and property management companies to put together policies that prevent tenant rent debt.
Similar to “5 Tips on Tenant Screening in Today’s Market”, we recommend the following steps:
1. Call Previous Property Manager / Landlord
2. Ask for Employment Proof and Pay Slip
3. Ask them to show proof of last rent payment
4. Do a criminal check
5. Do a sex offender registry check
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