Rent payments: exploring the available options

Any expert in property management in Las Vegas will tell you there are many ways of collecting rent apart from the conventional knocking on the tenant’s door. As a property owner, rent is one of the stickiest subjects when it comes to dealing with tenants. When deciding which option to use, here are some of the factors one must think about;

  *     The number of rental units in the building
      The distance the property owner lives from their rental units
  *     How much one is willing or able to interact with their tenants
      How comfortable the property owner is with technology

With a clear picture of this, here are some of the options available when it comes to the collection of rent

Online collection

The tech savvy can opt for online payment methods and options. There are many online payment sites available to landlords and property managers, many of which are exclusively tailored for rent. The prices paid will vary depending on the plan selected; some sites are basic, offering only rent collection while others are more complex. Online options are great as with them one does not have to give any personal banking information.

Mail

It could be because of distance or time, but most of the time many property owners are not able to go door to door for the rent. A convenient option is allow the tenants to pay the rental payments by mail. However, it is important to understand some of the drawbacks of this method. For instance, the rent could be postmarked a certain day, meaning it would technically not be considered a late payment, but would still arrive late. Sometimes tenants might not pay their rent in full, and sending it in the mail will buy them a few days until the landlord and property manager can find out.

Drop-off

If there is an office for the property investing business or property manager, then one may choose to allow tenants the chance to drop off their rent there. It is not advisable to have tenants drop off payments at one’s home address of even give them the home address, except in situations where one lives in the same building. Follow us on Google+ .

Tired of dealing with tenants and rent? Let Simply Property Management handle it for you. Call 702-487-4824 or visit the company website for more information.

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