Comments on: Rent Collection Tricks

By: Scott H

Scott H — Fri, 18 Nov 2011 04:06:29 +0000

I agree one should move to evict swiftly to evict. But every time I drag my feed because I’m gambling of what will be the lesser financial hit. My rentals are in a LLC which requires me to hire an attorney for unlawful detainer in Washington County MN. Between attorney fees/court fees/courier fees the case costs me between $1,200 and $1,800 to evict.

By: Missy

Missy — Wed, 07 Jan 2009 04:02:41 +0000

I found [spam website omitted by admin] is for reporting deadbeat renters. All rental property owners need to checkout that website and post their deadbeat renters. When renters find out their name is on that database they quickly want to pay-up. Also, it helps other landlords from getting burned and you can check if any renter has a record.

By: Twin Cities Real Estate Gal

Twin Cities Real Estate Gal — Fri, 02 Jan 2009 15:22:17 +0000

I agree – if you give an inch, they take a mile! We have found that communicating the expectations clearly upfront helps alot. Also, background checks are a MUST. If a tenant has had issues paying rent in the past, they will mostly likely have issues now too!

By: Rob Bonahoom

Rob Bonahoom — Fri, 02 Jan 2009 04:57:00 +0000

Great post Scott! These are great tips.

By: First Time Home Buyers

First Time Home Buyers — Tue, 30 Dec 2008 03:02:00 +0000

The last sentence says it all: You’re not in this to play house. This is a business, and even if you’re not making a monthly cash flow from rent, you’re still gaining long term equity, and it’s important to make your tenants know this fact.

By: minnesota real estate

minnesota real estate — Mon, 29 Dec 2008 01:52:15 +0000

great post scott! i agree 100%! it is crucial to be firm when collecting rents!

By: MN Properties

MN Properties — Sun, 28 Dec 2008 23:40:23 +0000

Thanks for the post Scott. Sounds like boiler room advice can go a long ways. ABC….always be closing, right!

By: John Gall

John Gall — Sun, 28 Dec 2008 21:52:44 +0000

Great list! One thing to watch out for. If you have multiple tenants sharing a unit send the invoice to all tenants. I allowed one tenant to consoliate the rent and speak for the others and later found she was collecting on time but paying late. As soon as all tenants received individual invoices the rent started coming in on time.