What to Do If You’re Losing Money on a Rental Property
In a hypothetical model, a property owner should be able to generate positive cash flow with a rental property in an attractive…
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Talk to any business owner in any industry and ask them to give you their wish list. Do you know what you’ll almost always hear? More time off, less stress, recurring revenue, etc. And what they’re really saying is, “I’d like to automate things so that the business runs without me.” The same is true… [Read More]
Rent collection is probably going to be one of your most gratifying responsibilities as a landlord. It’s a deceptively simple practice—all you have to do is collect money from your tenants at the first of the month (or whatever date is specified by your lease agreement)—and you’ll enjoy the influx of cash however you like.
As a landlord, one of the biggest stressors is collecting rent. Even if it typically gets paid on time, you’re still left with a little anxiety at the beginning of each month. The reality is that it’s just not efficient to collect rent through the mail or in person. If you want to make the… [Read More]
In the past, collecting rent was as simple as knocking on your tenant’s door and collecting the money in an envelope. It’s not so easy today.