Rent Collection – Part IV

Printing Rental Cheques

Successfully tried by a number of landlords, you can also see whether this inexpensive method of rental collection works for you. All that is required is to just sit down and print monthly payments at one go. Get all new residents to sign on and bribe your existing ones to join in.

An auto-draft service, residents can sign a one-page form authorising you to debit their account. A Windows-based software application programme, it allows you to print these ‘Demand Drafts’ any time you like, after arranging for recurring monthly rental payments from tenant bank accounts . No longer, do you have to wait for the mail to arrive, simply turn on your PC and hit the print button for the cheques to roll off the printer. And, on the first of each month (or whenever), you can simply head for the bank and collect the month’s rent.

Again, it remains to be seen whether the tenant has sufficient funds in his / her bank account, but at least the wait for the cheques to arrive before depositing them is over, though it remains to be seen whether they are honoured or not. Another disadvantage is purchasing stocks of cheques, but a good number will come free of cost on your initial purchase.

An additional advantage of this software is the ability to set up your own bills, so each month recurring bills can be printed or even a set of blank cheques with your relevant information. You can find out more about this software from www.TexasRealEstateClub.com/checkman.html, and even purchase it online. A trial of this method is the only way to find out whether it works for you or not.