Five Ideas to Help Turn Late Payers into Gold
By: Nick Frantz
Every month, whether I have a balance or not, I get an email reminding me that my credit card payment is due in 10 days. I’ve never been late with a payment, so initially I wondered, “Why did they send this?” When I recognized that it was part of a proactive strategy to ensure on-time payment, I understood.
On a list of traits that make up the ideal tenant, “pays on time, every time” has to be right up there at the top. These tenants are gold. But there will always be tenants who are habitually late payers. And dealing with tenants who cross the line from late to delinquent can be costly and tough to resolve.
With an always-growing to-do list and staff stretched in all directions, how do you get the best bang for your buck when it comes to cultivating high-value, on-time payers?