A simple to get your money on time

[TPSG, LLC 3]

Okay,

 

Here's a really good marketing tip and way to get your payments every month on time to you, etc. When you do a lease option deal, or rent out a property, or anything that involves you getting payments...take the time and grab some envelopes. Address all the envelopes to you or your company with the return address being the same and then stamp them....yes...stamp them. It will set you back a large $3.90 and some change but what it will do is take away one of the major obstacles people seem to have....mailing stuff. All they have to do is put in the check, seal it up and send it.

 

Okay, so it's not a great marketing tip.... but I'm sure some of you could find a way to turn it into one.

 

Chris

[option8 0]

I like this idea...

 

To expand on it, why not set it up so they can pay you electronically.

 

option8

[-Tony- 0]

how about stipulate that rent credits will not be given for late payments. A late payment constitutes any payment received after 5:00 pm of the last Friday of the month.

 

You ask why the last Friday. Because that way they can't go out and blow it on the weekend if Monday is the last day of the month

 

Tony

[JerseyJeff 0]

I've read "gurus" speaking on all of these techniques. One more, if you can get the T/b to do it, is to have them give you 12 post-dated checks for the first of every month. Tell them this will ensure they do not lose thier rent credit for each month (See -Tony's- point)

[mark 0]

If the rent is 300 tell them its actually 400 but you give a 100 dollar discount when rent is on time.

If not, you get an extra 100, plus late fee and you are made aware that the tenant has big financial problems, if the fear of paying an extra 100 isn't enough to keep from being late.Then i recommend if they go past the fifth, EVICT, don't mess around.