According to Boss Magazine, Mesa, AZ, has a low cost of living: The monthly average rent is $1,529, lower than the U.S. average of $1,628. The city also offers a high-quality education system, easy transportation, 40 miles of cycling lanes, and numerous outdoor activity opportunities.
All those qualities make Mesa a good place for renters, which is fabulous news if you're a soon-to-be Mesa landlord. However, your success will still depend on your ability to implement effective and timely rent collection.
Luckily, you've come to the right place. Read on as Real Estate Property Management put together this guide on efficient and practical landlord rent collection tips.
Offer Online Rent Payment Methods
A recent article from The Financial Brand reported that convenience and flexibility are the primary reasons three in ten polled Americans prefer to pay bills online. Over a quarter do so with a mobile device, while 20% like to pay using a biller's online portal, and 17% favor automatic payments.
With more Americans opting to settle their financial dues online, it's best to offer your tenants online rent payment methods, too. They'll find it easier to pay rent on time, as they can easily do so without traveling, making over-the-counter bank deposits, or going to you to give their checks in person.
Investing in a landlord-tenant portal is one way to implement online rent collection. With one, you'll get access to a platform with software that makes digital and online payments (e.g., mobile wallets, debit and credit cards, and e-checks) possible. The most innovative portals even let you store critical paperwork online, such as lease agreements and tenant screening reports.
Automate Rent Collection
Automating rental payments is another effective strategy for efficient rent collection. You don't have to require tenants to agree to autopay, but you should discuss its benefits, which include:
- Guaranteed on-time payments through direct debits
- Reduced risks of paying late fees
- Peace of mind and less stress
Consider offering an incentive to encourage tenants to agree to autopay. For instance, you can give them a small one-time rental discount if they subscribe. Also, remember that most, if not all, people like discounts, so you can use this strategy to attract new tenants to your Mesa rentals, too.
Partner With Real Estate Property Management
Real Estate Property Management is a full-service rental property management company serving Mesa, Arizona landlords and tenants. If you pick us as your dedicated property manager, we'll handle rent collection on your behalf. We'll also give you access to an online portal that allows you and your tenants to:
- Pay rent online
- Check payment statuses
- File maintenance requests
- View lease agreements, tenant documents, transaction receipts, and other forms
We're confident of our high-quality services, but we also offer guarantees for your peace of mind, including our Leasing, Happiness, and Results Guarantees.
Ready to Simplify Rent Collection?
Online payments and autopay options are effective strategies for timely and efficient rent collection. However, the most straightforward and hands-free way is to partner with Real Estate Property Management.
With our real estate, construction, and property management experts on your team, we'll guarantee your property remains profitable, desirable, and up to code. Count on us and our local expertise, top-of-the-line property solutions, state-of-the-art technology, and many residential guarantees.
Speak with us today for a complimentary Mesa property consultation!
