Reply: I need suggestions please: We are 4 days into the month already and I still have $56K outstanding.

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Johan Zea
1) Export delinquency into excel and data sort from highest to lowest

2) Take on the top 10 balances

3) Check with your Supervisor to see which sister property has the lowest delinquency and ask if they can help you with the next top 10

4) Have another sister property follow-up on the next top 10

5) Provide the excel to the maintnance team so they are aware of who has a balance and to ask that they call you if they see the resident

6) Call your collections agency and see how they are doing on collecting bad debt

7) Is your laundry equipment up and running

8) Anything on the property you can charge for ? Reserved parking, etc

9) If they are at the end of their lease ensure they are not renewing and going to MTM
Posted 1 year 8 months ago
Our company ended up partnering with Flex, and then gradually doing away with LPAs. That really helped alleviate the issues with the repeat non-payers. Keep in mind that as the new manager, you are setting the tone for what to expect if they don’t pay. If you aren’t aggressive right from the start, it will take much longer to overcome the problem. Believe me, if you start evicting those late payers word will spread fast and you’ll start collecting more rent quickly. I’m not trying to sound heartless towards the residents; it’s the cost of doing business in our industry. I hope you get the help you need soon!
Posted 1 year 8 months ago
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Donna Schatz Pinney
Consistency. Set up policies. Follow them the same for everyone. If someone says that they're having difficulty paying respond that we understand that some have more difficult circumstances than others but you have to understand that it wouldn't be fair to others if some had to pay rent but others did not. For old balances, again consistency. Make arrangements on old balances but must stay current on current balances while paying off the old. If there are 6 mo left on the lease divide old balance by 6 to figure out the extra monthly payment so they will be caught up by renewal time. If they do not get caught up, give non renewal notice. Those that don't follow up with you, eviction is the answer. A wise supervisor once told me, "we are running a business, we are not a social service agency ". I've found that often "low income" or "fixed income" residents are often the best at budgeting bc they know exactly how much they have to work with
Posted 1 year 8 months ago
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Amaris Bellinger Potts
Do you do walks and talks? Do they have guarantors you can call?
Posted 1 year 8 months ago
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Steph Kwek
I stepped in to a property like that. Two evictions and word spread. They can either apply for rental assistance or go. You need to show them you are serious or they will continue
Posted 1 year 8 months ago
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Celeste Norena
Your daily notices are making them know you not mean business file on all them allow one time bye out and after that they will be paying timely
Posted 1 year 8 months ago