Just read "Ordinary Millionaire" and one of the millionaires Jess stated that he uses a Rental Collection Agency to collect rent from the tenants who don't pay on time. I assume that this agent goes to the address and collects the rent in person on the owner's behalf.
Humm.... I think this is a great system for those who self-manage and it avoids the 'friendship' with the tenant when collecting the rent in person yourself (if you do this).
It just one of my tenants has failed couple a couple of times to deposit the rent into the account, so I call in and it is given to me in cash etc. This means that I have to now go to the bank for the tenant, during the week.
I have not heard of a Rental Collecting Agent and wondered if anyone else uses them? Wh they use? Costs involved?
(I have not done a research as yet)
Danny D.
Humm.... I think this is a great system for those who self-manage and it avoids the 'friendship' with the tenant when collecting the rent in person yourself (if you do this).
It just one of my tenants has failed couple a couple of times to deposit the rent into the account, so I call in and it is given to me in cash etc. This means that I have to now go to the bank for the tenant, during the week.
I have not heard of a Rental Collecting Agent and wondered if anyone else uses them? Wh they use? Costs involved?
(I have not done a research as yet)
Danny D.
