How we have improved our tenant delinquency in our Professional HMOs is very simple. Constant supervision. If the tenants in our Professional HMO do not pay lets say on Monday. By 5pm there are sent a text. If there is no response we follow up with a phone. If there is no contact via phone one of us goes to the HMO and knocks on the door. We have numerous rooms in our Professional HMOs and we use a software package from the RLA. However the program is only as good as the followup. We give our tenants full respect and we require them to pay timely. We have not had too many issues. An occasional late payment and we have agreed to let the tenant catch up next week. There will always be issues that are unforeseen and our goal is to work with our tenants in our Professional HMOs.
It’s important to persistently contact delinquent tenants to remind them that rent is due and that an eviction is in progress or upcoming. Several reminders spread out over emails and text messages have led to more tenants contacting us to schedule payment plans leading to fewer tenants leaving or evicted.
I hope this gives you some good ideas to improve your delinquency. Late payments and voids are the reasons Professional HMO landlords fail.
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