Do you send invoices or monthly SMS/ Email Reminders to tenants? If so, what service do you use or do you do it manually? What free options exist?
I think I found a good one using IFFT website. I created a automatic recipe that sends reminders to my tenants on the 28th of each month that rent is due soon. This is completely automatic and it can be used with tenants that only have a cell phone and no email since you can lookup the cell phone email that gets sent to tenant as a text message using gmail.
I'm going to start using this for my tenants that are unable to use williampaid or other online rent payment service.
Take a look below:
this is how you lookup the tenant SMS email equivalent for their carrier:
Would you rather get late fees or on time payments?
What do you think of the IFFT recipe? Can it be improved?
Our tenants learn when rent is due when they sign the rental agreement. They learn to pay their rent on time because we send them a Rent Past Due letter if they don't and it includes enforcement of our $50 late fee. Rent is due on the first, late on the second, and if they don't pay by the fifth, we charge the $50 late fee on the sixth. This builds in a short grace period for the late fee to take into account holidays and weekends. If I don't see the rent come in from a tenant who usually pays on or before the first, I might call them on the fifth to check in on them. I don't need to hold our tenants hands. They appreciate that I treat them as responsible adults who are capable of paying their rent and utility bills without needing to be reminded.
Marcia Maynard, Fischer Properties | Podcast Guest on Show #83
I could see a use for this in my case. I have college kids for renters and receiving rent isn't an issue because their parents pay it however we have had an issue with them not taking the garbage out each week. I've been thinking about sending a text each week to remind them but this might be easier. Thanks for sharing.
Originally posted by @Marcia Maynard :
I don't need to hold our tenants hands. They appreciate that I treat them as responsible adults who are capable of paying their rent and utility bills without needing to be reminded.
I think this is the most desirable situation. However if I had a tenant who commonly paid in the grace period or who paid late, I think this might be a good way to communicate without having to wait until sending a past due notice or having to call for rent.
I too have strict ground rules for rent being due on the 1st and late fee applies after the 5th. I post a notice to pay or quit on the 5th and always collect the 5% late fee. I made these rules clear at lease signing. After 2 months of getting rent late (with late fee included) before the 10th of the month, I thought of this automated reminder text. I recognize that I don't mind getting paid the late fee for accepting rent a couple of days late, but I also value on time rent. Sometimes its as simple as sending a reminder on the 28th (as an automated process requiring no extra work on my part). They take my notice to pay or quit notices seriously, but it seems like they are just forgetting to get it together at the end of the month and drop off their rent check. It doesn't reach the magnitude of getting them evicted or not renewing their lease, but this simple automated process might help my business make rent receipts more consistent.
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