How to Be Assertive About Collecting Rent
November 12, 2019
Collecting rent is just one of the many headaches of being a landlord.
You need the rent paid!
“On time, PLEASE! ”
This is a non-negotiable reality for your bottom line. It is after what pays the bills!
What a relief when the rent checks reach you on time! No need to worry about that…..until the next month. But when the rent does not arrive and you have to go after it; Being a landlord becomes a drag!
You will likely feel frustrated and unappreciated. It is probable that your tenants will experience their own set of uncomfortable emotions.
How you handle communication during this crisis could be the difference between receiving a rent check or not. It will determine whether you have to evict, look for another tenant or worse deal with the retaliation of an angry tenant leaving your property damaged.
Communication Clearly When Collecting Rent
There are so many details that require total agreement within your relationship with your tenant, that there is no room for assuming, guessing or vagueness. You must be able to communicate in a way that will not only be heard but also remembered.
You will be more likely to have happy tenants who pay rent without hassle.
Effective communication should start at the beginning of your relationship with a new tenant. Typically the lease agreement is an opportunity to lay a solid foundation for communication.
Using a custom lease rather than a generic template will give the tenant the idea that you instead to be involved, and are invested in the details of your relationship with them. Use clear and concise language so nothing is confusing. Be sure that the lease lays out your exact expectations.
Collecting rent from happy tenants is easier
Handle Relationships Carefully When Collecting Rent
Being aggressive about collecting rent will damage the landlord-tenant relationship.
However, Being passive about the matter is likely to create problems as well. Passive-aggressive habits will damage a relationship quick.
Show your new tenants that you care about them as individuals. Express appreciation and hospitality to encourage goodwill. A welcome letter and a welcome gift is an easy way to do this. This easy one thing may affect the outcome of conflict down the road. Your tenants will perceive you as an ally and peer rather than just a money grabber.
Remember that everyone has hard times so a little compassion may be appropriate. Hounding them for the money the rent makes the situation more stressful for both of you. You may consider having helpful information available for your struggling tenants. Such as contacts for charitable organizations, churches or other resources where they might find some relief from the pressure of not having the rent money.
One possible resource is a modest needs grant. If you are interested in a great cause to put your tax-deductible donations into, this is a great one to consider. show concern The goal is to be compassionate without becoming a line of credit for your struggling tenants.
As an assertive business person, you firmly hold yourself and others to their agreements by keeping boundaries nonnegotiable. You are taking care of yourself your needs while also being kind, caring and considerate towards the other person.
Benefits of Assertive Communication When Collecting Rent
You will:
- gain their respect and trust
- reduce stress and increase energy for everyone
- become a more confident professional.