If you own a rental property in Las Vegas, you can hire a property management company like Valleywide Properties to assist you with rent collection. Trying to collect rent from tenants in person or tracking them down can be a headache, and Valleywide Properties is one of the premier Las Vegas management companies for properties that can handle many of the tasks to go into collecting rent for you. If you still want to take some proactive measures yourself, here are a few ways to make rent collection easier.
Offer Online Payment Options
Paying rent online is one of the simplest ways for tenants to submit payments. In just a few clicks, tenants will be able to pay their rents instead of having to write checks and send payments by mail. Reminders can be sent out from the online payment portal that reminds tenants when rents are due. Hiring property managers that can help you set up online payment options can take some of the stress of collecting rent off your plate.
To avoid much of the hassle of collecting rent in the first place, you can screen prospective tenants before they move onto your rental property. Screening allows you to learn about each person’s rental history and if they have any evictions for nonpayment on their record. Vetting your tenants also makes it possible for you to learn whether anyone has criminal records involving fraud or other crimes that could indicate a lack of responsibility with money.
Insist on One Payment per Unit
Multiple people living in a unit might try to pay their portions of rent separately, and this could create an even bigger headache for you if someone doesn’t pay their share. Insisting on one check or online payment from each unit every time the rent is due can help you keep things in order and get you the full amount that you’re owed.
Enforce Rent Rules
Your tenants should have a clear understanding of when rent is due and how much is owed, and specifying these rules in each renter’s lease agreement can make things easier. You’ll also want to determine the accepted forms of payment and enforce penalties for not paying rent on time so that no one tries to take advantage of you.
Collecting rent will be a much easier task when you have a Vegas property management company like Valleywide Properties on your side. Hiring Valleywide Properties to handle the rent collection for you will leave you with more time to tend to other important matters in your personal and professional life.