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The Key to On-Time Payments with Tight Leases and Firm Policies
Manage episode 429677640 series 2503323
In this episode, I dive into a critical aspect of property management: ensuring your residents pay rent on time. It's not just about having a simple solution—it's about implementing a comprehensive process that has proven effective for us over the years. Discover the two essential components that contribute to our success: tight leases and adopted policies that lead to trained tenants. I share insights on crafting leases that legally enforce timely rent payments and explain why having clear policies is crucial for maintaining consistency and avoiding exceptions. Join me as I break down our approach to late fees and the specific steps we take when tenants fall behind on rent.
Links Mentioned in this Episode:
Connect with Jay:
137 episodes
The Key to On-Time Payments with Tight Leases and Firm Policies
W2 Capitalist | For Married, Busy Parents Side Hustling in REI
Manage episode 429677640 series 2503323
In this episode, I dive into a critical aspect of property management: ensuring your residents pay rent on time. It's not just about having a simple solution—it's about implementing a comprehensive process that has proven effective for us over the years. Discover the two essential components that contribute to our success: tight leases and adopted policies that lead to trained tenants. I share insights on crafting leases that legally enforce timely rent payments and explain why having clear policies is crucial for maintaining consistency and avoiding exceptions. Join me as I break down our approach to late fees and the specific steps we take when tenants fall behind on rent.
Links Mentioned in this Episode:
Connect with Jay:
137 episodes
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