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Tampa Property Management Tip: Increasing Rent Collection with Low Income Residents

Low income tenants are often irresponsible and do not pay their rent on time. Most Tampa Property Managers struggle collecting rent from these Residents because their expectations are too high. In order to be successful with low income tenants, you need to prepare yourself that the rent will most likely be late and excuses will be made on a regular basis. There are low income tenants out there that are wonderful tenants and consistently pay on time but the majority of them will struggle paying you every month.

Tampa Property Management Tip #7 - Do an Inspection During Every Work Order

Owners of the rental properties we manage are always concerned about our company inspecting their houses to make sure everything is okay and ensuring the tenants are not trashing it. By tackling this concern head on, we convince more new owners to choose us as their Tampa property management company. Not to mention, this helps us retain existing clients.

Tampa Property Management Tip #6 – 50% of the time, the tenant pays the eviction costs and rent.

Believe or not, half the tenants will pay you rent to keep the eviction from going through. Difficult tenant are like children and often must test you before they believe you’re serious about what you say. You simply have to file an eviction before they get the point that rent is due and must be paid on time (or at least paid reasonably late with a late fee). Nothing makes your point stronger than having the sheriff post the eviction notice on their door.

Tampa Property Management Tip #5 – Always Check Rental Before Filing Eviction

Okay, when the inevitable eviction arises, you should make a point of checking your rental to make sure the tenant is still living there. Hopefully, you have given the proper 3 day notice, as the property manager, the day after the rent was due. After the three day notice, you should be calling your tenant to find out why they haven’t paid rent. Make sure you do not just make one call and stop. If people are late with rent, they are usually embarrassed and reluctant to call back. Be polite and firm and leave 3 messages over a few days. If they normally are late, I often extend the eviction date to the 15th of the month or later

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