FAQ's on Rent Collection Concerns

by Remy Lacanaria


Posted on 2019-03-12 13:01:12


FAQ's on Rent Collection Concerns

 

FAQs on Rent Collections_2.jpg

 

 

Q: How do landlord/s establish a tried and proven rent collection policy and procedure?

A: Before renting out your place, you have to decide as to how, when, where, and in what form you want the rent to be paid for and put it in your contract. Most rent collection problems arise not because collection policy is bad, but because it is not being followed. Always enforce policy you decide upon. With Smart Housing Online Rent Payments, you can accept rent easily and without you to worry of having late rent payments from your residents.


Q: How long should the landlord/s need to give the tenant time to pay the rent?

A: Giving time to renters as to when they can pay the rent depends on how muct time you choose to give, as long as it is indicated on the contract that they have signed on. Whatever timeframe you opt to give, it must be clearly stated on the contract, and enforced it. With Smart Housing online rent payment, you don't have to worry about reminding your tenants about their due rent amount, it will be automatically posted on their Smart Housing account dashboard.


Q: How do I stop tenant/s in paying late rent?

A: Tenant/s paying late rent is beyond landlord's control. We cannot stop them from paying late rent. However, landlord can always enforce what is written in the contract regarding rental payments and the charges they have to pay too in case of a late rent payments. Rent Auto Pay is one of the features of Smart Housing Online Rent Payments. Residents can pay through Automatic Bill Pay. They should set up their bank account and have their rent paid on a specific date each month, so you don't have to worry about getting your rent payments late and avoid some charges.