Good Morning MN BP Community;I will be closing on my first property in a couple of weeks and I was wondering if you could share some advice about rent collection.

What is the process to start collecting money from past tenants of an apartment building that owe money to  the landlord?

In case of a split up or problem you want your voucher holder to be the one to stay.If the voucher holder does not qualify alone, pull in as many as you need to get them to collectively qualify. 

Saves you commissions and you collect more cash.

My partners DON'T think about scalability and that became a  problem.However, since they defer to my guidance as the most experienced Partner, I implemented several scalable solutions ahead of time.For instance, don't buy a rental and NOT use a rental collection website.

However, if they don't have enough collected funds to cover new roofs or decks, they will just do a special assessment and you might get a bill for $3000 for new roof.

The counties auction them off to collect taxes not paid by the owner.

This is the first month we will be collecting rent.

Outside management will typically collect the rent and disburse it to me between the 10th and 15th of the month.

The quality of unit and level of service you provide will dictate both the quality of visitor you attract and premium you can collect.