Your Tenants Don’t Want to Pay Their Rent Online? Try These 5 Motivation Strategies

It is important for landlords to receive rent payments in a well timed manner so it is essential for them to look for property management payment solutions so they can facilitate this goal. How can property manages increase their chances of receiving rent payments on time?

Nowadays, landlords have found an effective way to increase their revenue as well as improve their cash flow and this is by making use of an online payment portal to make lives easier for tenants and at the same time, increase the chances of landlords to receive the money due them at the right time.

However, as the saying goes, you cannot teach old dogs new tricks. It can be challenging to convince reluctant tenants who are used to traditional paying methods to make an online rental payment even if this could be the best solution.

1. Change the policy.

This may not really be a motivational tip but rather a change in policy. Some landlords adopt a new policy, that is, to pay rent by means of electronic payments. While landlords cannot force tenants to do so, when they say that this is their new policy, tenants will abide by it.

2. Reward them for using the online payment system.

When tenants are reluctant to sign up for the online payment system, landlords can try to give them a reward if they do. It can be a gift card or discount on the rent.

3. Set up a raffle for eligible tenants.

If there are several tenants, setting up a raffle will be a cost-effective choice. Those who agree to sign up for online rent payments will receive a raffle ticket and the price could be a gift certificate worth $50 to a dine- in- restaurant.

4. Remind tenants in a subtle way.

At times, a simple reminder is still effective. Landlords can mention the option to register for online rental payment on the website of the property management company in the office, via email, flyers or wherever it can be seen by the tenants.

5. Tell them directly.

Landlords can tell them straight. When they come across a resident, they can mention the advantages of making online rent payments.

The abovementioned tips will somehow encourage most of the tenants to register for online rental payments especially when they realize the advantages, which removes the load of handling check payments.

Make sure the online payment system is set-up properly

Property owners may be eager for their tenants to register for their online rent payment solution but first, they have to ensure that it offers the things that residents expect to have. Or else, they will not be convinced to sign up.

Certainly, tenants would like to have access to the online payment system 24/7 anywhere they are and at any given time they want, to adjust to their schedule.

Also, the system should be easy to navigate, use and understand. In other words, it has to be user-friendly. Another important element that can be taken into consideration is to be given the option to use the payment method they prefer so it would be convenient to set up recurring payments.

How to Ensure Good Tenants for Your Property

There is no way that you can be sure that your tenants are going to take good care of your property. For this reason we have compiled a few tips that can be extremely helpful to you for making sure that your tenants are taking proper care of your property or household.

– Choosing the right tenants

Choosing the right and the most appropriate tenants is very important. As part of your vetting process, you must also make sure that you always contact the previous landlord of your prospective tenant. You should ask them whether their tenants were good with the property and if they would be able to allow them again.

– Cleaning instructions

In case you are in possession of any items that require some careful cleaning, you can supply this information to your prospective or future tenant. You can also write down all the instructions for cleaning on a laminated document so that you have to do this only once.

– Remove all your valuables and personal items

This means that you must take out all the items that have sentimental and financial value. You can also replace them with some cheaper alternatives.

– A large deposit

A large deposit can be very helpful in making sure that your tenant takes proper care of your property. You must at least take six weeks’ worth of rent as deposit and also make it clear to the client that if any damage is done on the property, the equivalent amount will be deducted from the deposit amount. This will easily ensure that the tenant takes good care of your property as if it is his property.

– Befriend the neighbors

It is important to befriend the neighbors as they can be all eyes and ears when it comes to overseeing your tenants when you are not around. You can also give them all the instructions and ask them to be highly vigilant when it comes to spying on your tenants. This is a very naughty step but a very effective step as well. It is one of the important things to remember.

– Regular inspections

Regular inspections must also be carried out for ensuring that your property is in good hands. For example you can visit your property once every three months and do an inspection. This will help you in the long run as it can increase your trustworthiness on the tenant which can have many long term implications.

Rental Management Tips for Finding Tenants

Whether or not you have a single complex or hundreds of rental properties, it’s crucial that every unit is rented by tenants to keep up with your profit. Every tenant is found by several various ways. It could be putting up a “for rent” sign, using the newspaper and yellow pages, referrals and several other more means of finding possible tenants. But what could be the best rental management method in finding tenants?

The answer to find potential tenants with a “for rent sign” is traffic. The more people see your “for rent” sign, the bigger your chances of renting your property. In enhancing traffic, you can use a “for rent” arrow set on a major road to direct people to your property. If necessary, you can use multiple arrow signs at intersections in the area to guide them to my property. You can even put up a sign to your neighbors or to buildings or shops alongside your property if they allow it. Arrow signs work wonderfully in finding tenants.

If you want to be contacted immediately, you can record a message to your answering machine. As potential tenants call you and you’re not available, the recorded message can provide them all the details necessary. So, your message should contain all the essential details such as the rent amount, the deposit amount and the number of rooms available. This recorded message set aside several callers searching for lower rent, more bed rooms and many more. Doing this will save you a lot of time. As a rental property owner, you should make call backs to the person that leaves a message so you can schedule the time wherein you can show the property. It’s best to show the property as soon as possible so you can schedule more appointments. You can even invite all of the renters to view the property at the same day, doing so will save you a lot of time and less work for you. Moreover, prospects see the competition that adds up to the sense of urgency and pressure to their decision. It’s better to communicate with them and acquire a commitment for a meeting and meet that day before they find a new property.

When it comes to choosing tenants, you require to measure several inconsistencies such as how viable is the tenant to pay, how well they can take care of your property or how may prospects you’re planning to have. Often, your decisions depend on the property itself and the background checks that you’ll have to do to your potential tenants.