Rent Collection – Part II

Mailed Cheques

Being a landlord is not an easy job, and the toughest bit is collecting rent from tenants who begrudge it. You may have arranged a drop-in box for rental cheques, but they don’t seem to arrive and if and when they do, your mortgage payment is already long overdue. On being questioned about delayed payments, defaulting tenants have a ready excuse, claiming the cheque has been mailed and should be arriving any time soon. Indeed, it may arrive, but whether it will clear or not, remains to be seen.

Though, there are advantages to this method of rent collection, one that most landlords and tenants find hassle free, it is good only as long as the tenant believes in making timely and regular rental payments.

However, the method also has its downside, as everything depends on the tenant remembering to write the rental cheque on time, putting the correct address and postage on the envelope, and actually remembering to drop it in the mail. If, all is as it should be, then a landlord has to rely on the postal service to deliver the payment to the correct address on time.

A landlord may provide self-addressed stamped envelopes, so as to remove some of the risk associated with this method of rent collection. However, it does not always produce any noticeable results, and is not a method that comes highly recommended, with more involvement on the tenant’s side.

It is important landlords make themselves cognisant with all rules and regulations before drafting a lease, and take all necessary precautions, such as, screening tenants and conducting background checks on prospective tenants, including ensuring all promises in the rental lease are adhered to, as their insurance for a litigation free landlord / tenant relationship. A simple click of the mouse and any landlord or property manager can visit www.e-renter.com for tenant screening and background check services. www.e-renter.com, the best tenant screening agency in America!