LOS ANGELES PROPERTY MANAGEMENT

Los Angeles Property Management Tip On Dealing With Late Payments | Los Angeles Property Management Company | Los Angeles Property Management

In this world of Los Angeles Property Management companies, tenants may sometimes fail to pay rent on time, a landlord could take certain steps to recover late payments and also collect late rent fees.

Los Angeles Property Managers act quickly and come to a resolution with minimal hassle by having a plan in place for collecting rent that is past due. Dealing with late rent is one of the most common problems faced by thousands of Los Angeles Property Managers/landlords, it’s something you’ll most likely have to deal with. This tends to happen to thousands of landlords on a regular basis.

Communication In Los Angeles Property Management

Los Angeles Property Management Tip On Dealing With Late Payments | Los Angeles Property Management Company | Los Angeles Property Management

An important aspects of being a Los Angeles Property Manager/Landlord is communication especially when it comes to collecting rent. Both sides should be crystal clear about when rent is due, this will outline any consequences they may face in case payment is late.

Rentigo happens to be an online rent collection app. This is a great app for both the tenant and the Los Angeles Property Manager should download it. It will send a constant reminder to your phone until the rent is paid. This prevents tenants from making the excuse that they didn’t remember.

Why Are They Unable To Pay

Los Angeles Property Management Tip On Dealing With Late Payments | Los Angeles Property Management Company | Los Angeles Property Management

Unfortunately Los Angeles Property Management companies deal with late payments frequently. A lot of Los Angeles Property Management companies complain that the tenants have been not paying the rent on time, sometimes for months.

One of the first steps should be to call the tenant or pay them a visit, a notice must be given first of course. Have a talk with the tenant and ask them as to why they are not being able to pay, if you’re able to, let them know you can change the rent collection date to suit them better.

Los Angeles Property Managers Take The Last Measure

Los Angeles Property Management Tip On Dealing With Late Payments | Los Angeles Property Management Company | Los Angeles Property Management

When all possible measures have been exhausted, Los Angeles Property Management companies send the renter a notice to vacate the place. It would be in the best interest of avoiding conflict, as the notice will let the tenant know that they have made it very clear that they would not comply.

Los Angeles Property Management companies have heard every explanation of why the rent wasn’t paid, it could be true that the tenant got very busy in their lives that they actually forgot to pay, and the payment procedure isn’t so clear cut sometimes.

In Closing

If you truly have interest in a career as a landlord/Property Manager, start using a Property Management/rent collection solution that lets you collect rent online and assign all fees automatically. They’ll have a whole lot of features but the late payment fee is a saving grace for dealing with any renters that are falling a bit behind.

For the latest in Los Angeles real estate and Los Angeles property management news, trends and tools, make sure to stay connected with our blog at: http://tgnpropertymanagement.com/blog/

Posted by: tgnprop on February 3, 2017
Posted in: Uncategorized