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The below topics are discussed in much more depth
on our members' Collecting Rent page

Methods to assure prompt payment include:
  • Good information on the rental application
  • Strict qualification standards that are both legal and protect your interests
  • Proper tenant screening
  • Credit checks, reports and credit scoring
  • Personal and several liability agreements
  • Collect Rents Electronically
Delinquency policies should include the following:
  • Rent due on the 1st day of the month.
  • When 7 days past due, notice to pay rent or vacate.
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Rent collection and procedures should include the following:
Common collection failures include the following:
  • Fear of vacancy.
  • Failure to take threatened action.
  • Inadequate information on a rental application

Always take any action that has been threatened, then ....

  • Make a deal, perhaps even paying the tenant to move. 
  • Forgiving debt as a strategy - IRS reporting (income to the tenant)
  • When all else fails: EVICT.

Garnishment may be the only way to collect your money

  • If you have a money judgment on a former tenant you can garnish wages, bank-accounts and more. There is a great deal of information on the subject throughout the RHOL site.

Put Rent Collection on Automatic with a service that automatically withdraws rent from tenant bank accounts and directly deposits it into your checking account.  Costs less than accepting credit cards.  Read all about it .

Collecting Judgments .
You win your case in court, and have your judgment, how do you get your money?  RHOL provides a comprehensive and detailed e-course on collecting judgments.

The above topics are discussed in much more depth
on our members' Collecting Rent page

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