Topic: DO YOU SEND RENT REMINDERS?

DO YOU SEND RENT REMINDERS?

Believe it or not, lots of people forget to pay rent the day they're supposed to.

Granted. Not EVERYONE who says that is telling the truth.

But a ton of others are!

Do you have something in place to help them out?

Every first day of the month, send a gentle reminder to residents to pay rent.

You'll be surprised what a simple automated (nicely crafted) message can do for your collections.

Yep. On the first and the last day to pay with out late penalties.

Yep! On the fourth I send text!
Hello this is XYZ. Reminding you April rent is due. Please pay today to avoid late fees. Thank you

We do a rent reminder on the last day to pay without late fees, and our delinquency is very low. It really does help!

I send out reminders each month and also on the third as a final reminder “last day to pay” to avoid late fee.

We actually A/B tested this for several months. Group A we communicated when due and various steps throughout the month with various types of communication, emails, texts, notices, calls etc. Group B we provided zero communication until they were 75 days past due.

Our findings were that by 30 days there was only a 1.8% difference in outcome. At 60 days that difference dropped to 0.9%.

We get a bit sucked in with the logical fallacy of confirmation bias thinking that because money comes in after our efforts then it was the direct results of our efforts. In reality the majority of that would have happened anyway and we just wasted a bunch of effort for very little gains.

We had a bootleg sign that we put at the front of the property the 1st through the 5th that said rent due

I always send out a text, and my residents love that!

I have an auto text reminder that goes out on the 1st. Then on the 5th I personally text those that still owe a balance and what the amount is. I also tell them they can call me if they have any concerns. My residents love it too.

We send out 10 day notices on the 4th, and late notices after the late fees are posted as further reminders.

I’m sure that this would depend on how many units your Property has. But at mine I monitor my delinquency after the second day of the month and I send out a little reminder at the end of day on the third for anyone who has not paid yet. That way they can have it in the dropbox or pay online prior to late fees going into effect on the fourth.

No, but in the past I have on the 5th. Friendly reminder last day to pay before the late fee hits.

I’ve been in property management for 21 years and just this year I forgot to pay my rent on the 1st TWICE!!!

I had to put my rent on autopay because despite having collected rent for the last ten years, I still manage to forget to pay my rent.

Our system sends reminders automatically to everyone.

I have an email system so a day or so before the 1st I send out a reminder announcement and then after the 1st i keep up a rent reminder announcement. on the 5th i send out an urgent email that says it's the last day to pay without a late fee.

We send a general email out on the 3rd or 4th to those who still have not paid. Then we call and send an email to each resident on the 6th or 7th letting them know they still have a balance plus a late fee, and on the 14th we will send certified mail of late rent notices. I am very lucky to work in a community where majority of my residents pay!

We send a text reminder day of and a “gentle reminder rent late email” on the 4th. 3 day notices go out after that.

We use BUILDIUM and most of our residents pay thru the resident portal. If they set up a recurring payment plan, they get a reminder prior to the first. We have a zero tolerance policy; rent is due on the first of the month and daily late fees kick in on the second, with a late notice being generated daily until the rent is paid.