As a rental property owner, effective and timely rent collection is one of the most important factors in property management. More often than not, rental property owners suffer from defaulters and late rental payments. This should not discourage you. From our experience in the property management field, we can attest that on-time rental payments are a possibility. With the right strategies and proper implementation, you can enjoy your rent on time and in full every month. The team from Dawson Property Management shares its experience, guiding landlords on the ideal rent collection strategies. Tenant Screening and Selection The chief defense strategy is choosing quality tenants who will comply with the terms of the lease agreement. Who do you want to lease your premises? A high-quality tenant . This is a tenant who pays their rent on time and in full. And how or where do you find such a tenant? By implementing a comprehensive tenant screening process. The screening process is meant to protect your interests as the landlord. It is meant to verify the character, rental history, financial capability, and employment of the tenant. Once you decide on a tenant, you can be assured to a high degree of their character and financial capability. Convenient Rental Payment Methods Are you still taking cash and checks as your preferred method of payment? This could be a reason why your tenants are late in paying their rent.
The process of moving out can be a source of stress for both landlords and tenants. Landlords face challenges such as conducting property inspections, returning security deposits, and advertising rentals to find new tenants. Meanwhile, tenants are busy coordinating their move and packing, often leaving things behind unintentionally. One common issue for landlords after a tenant moves out is the continued receipt of mail addressed to the former tenant. This can include junk mail or packages, and dealing with it can be a source of stress. Thankfully, Dawson Property Management has provided the following guide to help you handle mail from previous tenants. Legal Considerations Regarding Mail from Previous Tenants It is imperative to familiarize yourself with various local and state laws, especially if you are a first-time landlord. This includes handling mail directed to former tenants. Opening or disposing of someone else’s mail without explicit consent is a serious transgression carrying legal ramifications. The privacy of mail is safeguarded by federal law. Violating this law, such as intentionally opening, destroying, or stealing mail not belonging to the recipient, can result in significant fines or up to five years of imprisonment. Offenders may also face civil lawsuits seeking damages.