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Tip #245: New Year’s Resolutions

 If landlords were allowed only one New Year’s resolution for 2014, it should be to start accepting electronic rent payments.

With all of the available options today, including automatic withdrawal, electronic checks and credit card payments, there is likely a system that makes electronic rent collection affordable and practical for every rental business.

Electronic payments eliminate the vast majority of reasons that tenants pay late, as well as minimize the risk of stolen or lost checks. In addition, many tenants prefer to pay rent electronically.

Make 2014 a happy new year by resolve to protect your cash flow and reduce the headaches that come from late rent payments.

See last week’s Landlord Quick Tip.

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