Tip of the Month - August 2009
Communication with Tenants
Source: Profitably Managing Your Rental Properties
R. Dodge Woodson
Many Tenants assume all
Landlords are rich. They think you need the money just for your
golf game or new luxury car. If you show the Tenant that you are
just an average person, working for a living as a Landlord, they will
be more apt to pay rent on time. Make clear that you cannot
tolerate tardy rent payments. Explain that your credit, your future,
and your family are at stake. If you let the Tenant know how
serious you are about collecting the rent promptly, the Tenant should
be willing to cooperate.
If the Tenant has intentions of not paying
his rent, you might scare them off with a hard-line stance. If
this is the case, you have saved yourself time, money, and grief.
Do not be afraid to spook a Tenant, but do not come off looking like a
dictator. If you present your rental policies in a diplomatic
manner, good Tenants will play by the rules and bad Tenants will
deserve what they get. Keep the communication lines open at all
times. If you stop talking with your Tenants, you are headed for
The first step in making rental collections easy is doing a complete screening of all prospective Tenants.
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This web page was updated on 07/30/2009.