Posted by Brian, WI on May 09, 2000 at 03:21:20:
What type of tenants do I seek? The best I can and sometimes that’s not good enough, just the nature of the business with these.
Do I have a manager on each property? Yep. Makes things easier, you may want to have them come up with what ever a weeks rental income is for a deposit(if you collect from the manager weekly-2 weeks worth if bi-weekly, etc.)to cover theft. It will happen-the cost of doing business.
I’ve found that if you set 1 day for rent colletion it’s A LOT EASIER! Rent was due on day of move-in, but I pro-rated to have it always due on Fridays from everyone…A LOT EASIER! and I chagre $5 per day late fee if it’s not.