Posted by Tim on October 24, 2003 at 23:04:21:
I also have a couple I use for rentals and I include the lot rent, and pay myself. Any time you can control and make the payments yourself to protect your assets it is a good idea.
Might think about utilities too especially water. Oftentimes this bill can represent a lien until paid. you should be aware and at least make sure they copy you on deliquency notice (I am fortunate, my utilities go through court against billing party, could care less who owns.) Also a good idea to talk to utilities and have your info on file. If you have an unexpected move one less thing to worry about in winter (mobiles don’t fare well with no heat.)
I have an arrangement that if a tenant goes deliquent, and they go to shutoff notice, I am copied. Also, they call me before shutoff and I will meet them there and usually get there money. Write a clause in your lease about utilities are a condition of lease, shutoff or latepayment is a direct violation. That much easier to evict a deadbeat. Also, judge here in town sees switching of utilities back to LL as abandonment(if done by tenant)…which saves eviction if they break lease.
(Would hate to evict a bad tenant and find out you are into the park for $1000 in back rent, and $500 for utilities or worse…)
Plus it seems to help the ever valuable relationship with the PM.
I just deposit into the PM’s account…really easy. Talk to the PM. Some require it on rentals as well.
As as side note this board focuses on sales moreso then rent. If you need more info about renting, I have a rental forum I also visit, I would be happy to share if you email me directly.