| Regardless of what type of business someone | | | | you let them slide, it is crucial you watch them |
| runs, mistakes are bound to be made. However, | | | | closely with payments. If a trend begins to |
| there are some mistakes that landlords seem to | | | | develop where they are consistently late on |
| make all too often. Here are five common | | | | payments, it is crucial you put your foot down |
| mistakes other landlords make to ensure you | | | | and collect late payments or evict them. Far too |
| steer clear yourself. | | | | many landlords are lackadaisical about evicting |
| 1. Leniency with rent collection | | | | tenants who are late on payments or not even |
| When running a business you have got to make | | | | paying at all. |
| sure you receive payments. How else do you | | | | 4. Trying to do too much |
| keep the business up and running? By letting a | | | | Every business needs some kind of help, including |
| tenant slide one time, they are going to think they | | | | landlords with apartment complexes. Do not try |
| can do it again and again. Make sure you have a | | | | to do everything on your own as it will wear on |
| set rule that after a certain period of time there | | | | you and decrease the quality of performance that |
| will be a late fee and each day after that | | | | is done. Hire a handyman to take care of any |
| additional charges will be made. | | | | damage, a carpet cleaning company to clean the |
| 2. Failure to prescreen tenants | | | | carpets, and any other sort of assistance that |
| Prescreening tenants closely it crucial to ensure | | | | may be needed to keep your complex up to par. |
| each applicant is qualified. Always look at the | | | | 5. Lacking expense operation experience |
| tenant credit to see how they have fared well | | | | Feeding off of the last point, do not try to handle |
| with making payments in their life. Take a close | | | | all of the expenses if you are not the best with |
| look at their criminal history to make sure they | | | | math or do not fully understand how to deal with |
| do not have a violent past. Also, check into their | | | | expenses. Someone with a poor tenant credit |
| previous rental history to see if they have one | | | | could easily get by if you do not understand all of |
| for starters; and if they have been evicted | | | | the expenses going on in the business. If need be, |
| before. | | | | hire an accountant or another employee who can |
| 3. Lack of eviction | | | | deal with the expenses. |
| If someone does have weak tenant credit and | | | | |