Los Angeles Real Estate Investors say, tenants will default on rent at times.
Landlords have to take certain steps to recover late payments.
Often times this means collecting late rent fees.
Late rent payments, unfortunately, are common for property managers.
This tends to happen very often.
Los Angeles Real Estate Investors Communication Procedures
Los Angeles Real Estate Investors know that communication comes with the territory of collecting rent.
The lease agreement states very clearly about when rent is due.
A good communication tool is Rentigo, an online rent collection app.
It sends constant reminders to your phone until they payment is made.
This prevents a tenant from making an excuse about not pay on time.
Not Paying On Time
Los Angeles Real Estate Investors deal with late payments often, unfortunately.
If you ask property managers, they can contest that tenants don’t pay rent for months at a time.
Sometimes you can call the tenant first, but, you should send a notice first.
If you have good rapport with the tenant, ask them if they need anything.
Sometimes this helps to open up dialogue.
Certain property managers are able to change the collection date, this suits the tenant a lot better.
The Last Measure
Los Angeles Real Estate Investors say, the last step to take should be to send the renter a notice to vacate the unit.
The best interest for both parties is to avoiding conflict, the notice lets the tenant know that they have until a certain date to vacate.
Property managers have heard every explanation in the book.
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