One of the biggest causes of landlord headaches is unpaid or delayed rent. Because this affects cash flow, the business could face problems in other aspects such as repair and maintenance, a significant piece of the management budget. Given this, an efficient payment system should be in place to hold tenants accountable and encourage them to pay on time.
There are techniques that property management companies in Long Beach, CA recommend to help you collect payment properly.
Automatic Payment System
Employing a system for automatic rent payments will avoid human errors, such as tenants forgetting to settle their dues. An auto-pay or auto-deduct assures you that payment collection is accomplished on time. You can set this up through different platforms, including automated-clearing-house debit, online bill pay, and post-dated checks.