Making progress (by Hoosier [IN]) Nov 25, 2020 11:49 PM
Making progress (by BRAD 20,000 [IN]) Nov 26, 2020 2:36 AM
Making progress (by plenty [MO]) Nov 26, 2020 7:12 AM
Making progress (by S i d [MO]) Nov 26, 2020 7:24 AM
Making progress (by Jason [VA]) Nov 26, 2020 8:38 AM
Making progress (by Ray-N-Pa [PA]) Nov 26, 2020 8:55 AM
Making progress (by 6x6 [TN]) Nov 26, 2020 9:16 AM
Making progress (by Hoosier [IN]) Nov 26, 2020 9:21 AM
Making progress (by 6x6 [TN]) Nov 26, 2020 9:56 AM
Making progress (by Sorta Blonde [CA]) Nov 26, 2020 12:06 PM
Making progress (by BRAD 20,000 [IN]) Nov 27, 2020 12:57 AM
Making progress (by BRAD 20,000 [IN]) Nov 27, 2020 12:57 AM
Making progress (by Small potatoes [NY]) Nov 27, 2020 1:24 AM
Making progress (by Sorta Blonde [CA]) Nov 27, 2020 1:14 PM
Making progress (by Hoosier [IN]) Posted on: Nov 25, 2020 11:49 PM Message:
I now have my 2nd tenant on ClearNow...working to get them all on over time. I'm hoping I can get it all done by spring. Just need to manage this carefully as some tenants don't even have checking accounts...they pay with money orders. I've been wanting to do this for quite some time, but at least I'm headed the right direction.
--99.92.xxx.xxx |
Making progress (by BRAD 20,000 [IN]) Posted on: Nov 26, 2020 2:36 AM Message:
Hoosier,
Many jobs pay directly into a bank account, even the ones who pay to Paycards. SSI does too.
They might have a checking account but not know how to use it.
BRAD --73.102.xxx.xxx |
Making progress (by plenty [MO]) Posted on: Nov 26, 2020 7:12 AM Message:
Excellent. I'm a little further down the road. Just yesterday came a money order on the mail. I use to get excited about the mail box money. Sigh... i said i have to go to the bank! It's so hard now cause everyone is in the drive thru, sometimes for complicated banking needs. I have one who cant switch cause driving is a health risk for her. Hopefully that will change and she will be able to take her cash to the bank. Then i will be 100% switched over! --172.56.xx.xx |
Making progress (by S i d [MO]) Posted on: Nov 26, 2020 7:24 AM Message:
Good for you! Going to automatic payments has been a huge time saver and seems to have all but eliminated late pays and non-pays for me. I have no study to back this up,but when the expectation is that the money will be taken on X date, the tenant makes sure it is there. We also try to ensure the payment hits on the same day as their payday or no more than 2 days after.
I still have a few holdovers from back in the old days, but as turnovers happen everyone goes on auto pay. The ACH for is now page 9 of my lease. Standard procedure. --136.32.xx.xxx |
Making progress (by Jason [VA]) Posted on: Nov 26, 2020 8:38 AM Message:
When it’s time for rent increases, I give options: the rent goes up $100 each month, or if you sign up for clearnow, the rent only goes up $50. I include a clearnow application with the notice along with additional information.
When screening new applicants, one of my questions is “do you have a checking or savings account”. If they don’t have one, they get rejected. With new tenancies, I will only allow rent to be paid through clearnow.
I had one tenant pay late earlier this year, and although I also received a 10 percent late fee, I still had to sit in a long drive through line for what felt like a lifetime to deposit the cashier’s check. I would have rather had that time back than the extra 10% late fee. --73.177.xxx.xx |
Making progress (by Ray-N-Pa [PA]) Posted on: Nov 26, 2020 8:55 AM Message:
Much of what we do is about process improvement.
If there is a routine task that just sucks up your time, that should be the task that should be targeted for automation. Going to a PO Box,filling out a deposit slip and then going to bank will set you back 30 minutes.
I was doing that every other day at one point.
Simply by automating the process completely you are able to reclaim 25 of those 30 minutes. Over the course of a single year - you are getting an extra 90 hours of your life back. That can be 90 hours free so you can do the things you like doing instead of what you have to do.
I call that freedom!!!!
Now what shouldn't you automate? The items that tend to cause special cause variation. We are in a serious situation with COVID. I submit those that are riding this out best are the ones that face this straight on from the beginning. When you find yourself out of your league though, you outsource the issues to the specialist.
Sure I can put on a metal roof on a 2.5 story building. In my younger years I would be beating others how quickly we could do it........now tall roofs and myself really don't mix well. Then again - how often do you put on a metal roof? Once per house per your life time if you do it right.
So I applaud you taking those baby steps. Small steps add up to huge steps at the end of the year --24.101.xxx.xx |
Making progress (by 6x6 [TN]) Posted on: Nov 26, 2020 9:16 AM Message:
Thank you for sharing this. I hope it works out well for you.
I am assuming that Clear Now charges you a fee for this. If they do, are you upping the rent as well?
Or, do they charge the tenant? --73.120.xx.xxx |
Making progress (by Hoosier [IN]) Posted on: Nov 26, 2020 9:21 AM Message:
6x6 yes they charge a fee. We don’t up the rent ...the convenience pays for itself. We will build it in to the next rent increase.
No charge to the tenant. --99.92.xxx.xxx |
Making progress (by 6x6 [TN]) Posted on: Nov 26, 2020 9:56 AM Message:
Thank you Hoosier --73.120.xx.xxx |
Making progress (by Sorta Blonde [CA]) Posted on: Nov 26, 2020 12:06 PM Message:
I guess I'm lucky (most of the time) to have my 2 rentals right behind my house. Only 200 feet for the Tenants to walk up and ring my bell. For some silly reason, my last two families have paid me totally in Cash. They do have bank accounts, (I verified), but prefer cash. OK by me, I'm just happy they pay on time every time. --72.199.xx.xxx |
Making progress (by BRAD 20,000 [IN]) Posted on: Nov 27, 2020 12:57 AM Message:
Blondie,
I used to like cash. One day #1 paid and walked away as #2 walked up with more cash. He said "Wow! I'll bet you have a lot of cash in your house right now!"
Then a guy with no shirt, piercings, tatoos back when they they were only for rough dudes, leather pants, and a giant knife strapped to his leg arrived with 2 buddies at 10:30pm with his Mom's cash.
Never again.
BRAD
--73.102.xxx.xxx |
Making progress (by BRAD 20,000 [IN]) Posted on: Nov 27, 2020 12:57 AM Message:
PS
At lease signing our new residents ASSUME we do autodraft and prefer it.
BRAD --73.102.xxx.xxx |
Making progress (by Small potatoes [NY]) Posted on: Nov 27, 2020 1:24 AM Message:
I'd love to get my tenants on to automated payments. I have one zelle. The ones w checking accounts look at me sideways when I mention online banking. It's finally sinking in for most. The rest are money orders, half WU and the rest USPS. My bank confirms the USPS ones over the phone because of fraud. I'm thinking of telling these tenants no more post office mo. I'm tired of waiting for the bank to clear them. FYI I go inside to the teller, it's emptier and I hate the car queue. --100.38.xx.xxx |
Making progress (by Sorta Blonde [CA]) Posted on: Nov 27, 2020 1:14 PM Message:
Oooooo BRAD! That tatooed guy with the piercings and big knife sounds like my kinda guy. Wow. I only have the two little rentals behind my residence so it's not a problem for the Tenants to just ring the bell and give me rent.
After that stupid eviction with 7 months of no money, I'm thrilled to get any form of money. What's this 10:30 at night bit? Surprise?, or do you actually open your door to people after dark?
I only answer a Tenant if it's an emergency. Nothing good happens after dark. Guess it has to do with neighborhoods. Mine is fairly safe, except for all the transients living at the park and in drainage ditches a few blocks away and jumping over fences to get to other streets, or panhandling, or...Most are friendly, I make it a point of getting to know all the crazies around here. Helps if you are presenting yourself as 'not a victim'. They do have some interesting stories to tell. - --72.199.xx.xxx |
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