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Encino – Property Management

PROPERTY MANAGEMENT ENCINO

Ways To Ensure That Rent Gets Paid On Time

Managing rental properties can be a difficult undertaking. As a landlord or a manager you have to contend with different situations each month. One of the common problems that most managers bump into as they run a rental property business is late rental payments. Each late payment usually has a pitiful story associated with it. Below are some techniques that can help you ensure that you get your rent payments on time:

Choose The Right Tenant

Conducting a painstaking tenant screening process can help you ensure that you receive rent payments on time. When taking applications from prospective tenants, make sure that you evaluate their background meticulously. Take time to contact its former landlord or landlords and ask whether the applicant is paying rent religiously in the past. If the applicant has a negative reputation in terms of late rental payments, don’t rent your property to that person. Choosing your tenants suitably from the very beginning can save you from impending problems in managing your rental property in the future.

Be Strict In Imposing The Terms Of The Lease

Make sure that your tenant understands the provisions stated in the lease or rental agreement. Be firm in enforcing the terms of the lease or rental agreement. Implement the rules as stated in the contract. If the scheduled date of payment is on the 1st of the month, it is late in the 2nd. If your lease imposes a late fee for late payment, do not allow renters pay late without paying the fine.

Give Rewards And Incentives

Rewards can induce tenants to pay rental fees on time. Even a simple thank you card can make an impact on your tenants. It is also a smart way of building a good relationship with your tenants. Giving out gift cards or discount coupons will surely please tenants. Incentives encourage tenants to continue paying the rental fee on or before the scheduled date of payment.

Evict The Tenant

Don’t hesitate to evict a tenant. Start on the eviction process once allowed by your lease and permitted by state law. Actually, you do not have to undergo the entire eviction process. Most of the time, serving your renter with an eviction notice is enough to achieve your desired results. It also gives other tenants the impression that you really mean business.

Indeed, supervising the operations of a rental business can be demanding and nerve-racking task. Nevertheless, adopting these tips will definitely make property management easy and smooth.

By Elaine Bernabe

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.