Posted by Chuck on August 30, 2003 at 15:59:49:
Here’s one I’ve used, and haven’t seen mentioned here before (damm if I know why I waited till now either).
When the home is in a park, the buyer is also paying lot rent (no big duh there)… I’ve set notes up to where they paid the PM (what they owe me) at the same time that they pay their lot rent… and the PM forwards their payment to me.
This has a couple of benefits. They can’t say they forgot… because it’s due with the lot rent… and the PM is more likely to let me know of any problems much sooner (such as they’re in default on the lot rent and thus the contract).