Rent Collection System

The Blitzkrieg Rent Collection Plan

by Clay Huber, Author at BiggerPockets.com

This Blitzkrieg method of rent collection involves contacting the renter who is late with their payment in as many ways as possible as fast as possible. You strike and strike fast.

Here’s how our company handles it. As you will see, it is a very simple 3 step process, but highly effective.

  1. Payment does not arrive.
  2. Property Manager immediately calls them.
    • If they answer: Ask them and GET DATE on when it will show, so they will be held accountable. “In the next few days”  is NOT a valid answer.
    • If they do not answer: leave them voice-mail and commence with Blitzkrieg.
  3. Property Manager immediately sends the tenant messages via email, text, Facebook, Instagram, Twitter, LinkedIn and whatever other contact information we have from them.
    • We created spots on our initial application/information form asking for social media information as a way of contacting them to let them know the status of their application. After all, the more ways we can contact them, the better!
    • We have a spreadsheet with all this information, and it’s a very easy way to avoid the “What is their phone # again?” problem.

We’re experts at this now, but we weren’t in the beginning. If you decide that you’d rather hire a professional to manager your rental property, you can use ours – FLRentSource.com

Thanks Clay Huber for writing The Blitzkrieg Rent Collection Plan for Landlords.