Bill For Rent
Does anyone here "bill for rent"? I mean, submit to tenants a monthly bill, like a utility bill. (Like the electric company sends out each month, with a due date and a bottom portion you tear off and send back in the envelope provided.)
Just wondering if this might be a useful idea. Any feedback?
MC
So, you would mail it to them? What would be the advantage?
I am spoiled - they all hand deliver the rent to me every month. I live about 5 miles away....no, I never ask them to do this but they all do.
I do. I have some tenants who were always late. SInce I started billing them with a prominent reminder of the late fee they have begun paying on time or even early on a few occasions
Quote:SInce I started billing them with a prominent reminder of the late fee...Please tell me exactly how you do this. Do you print up and mail out invoices every month? Return envelopes? How do you do it?
I am interested in your input. (Thanks!)
MC
royalfortune2 I print up invoices and send them. At first I send preaddressed envelopes with the invoice but I got smart and sent them mailing labels instead. I bill around the 22or 23 of the preceding month.
I create the invoices in Quickbooks when I am in the office and I have a Word doc template that I use when I am travelling.
What we have also done, we print QuickBooks statements to tenants, that has tear out stubs on the bottom. Some of our clients prefer to send labels, or window envelope where the address shows on the stub.
This my favorite way to do business: Save money and use the late fee for postage. Send statements on 5th of the month. That will tell the tenant that they owe us late fees on rent overdue.
[addsig]
Leta
Thanks for the info / newsletter. Perhaps you could expound on this insurance business a tad more in other post.
Even if the intend on renewing, you might convience then to move (a month early no less) by overing to pay their moving expenses and or move-in cost at the new place.
How badly do you want the new tenant?
Can they hold over 1 month and then move.
I would keep those tenants..