Articles of Interest
Reporting tenant pay habits monthly will enhance your landlord business
Landlords… now have the opportunity to report tenant pay habits on a monthly basis; this will have a positive impact on reducing rental income loss and reducing the problem of late rent payments.
The ability to report tenant pay habits on a monthly basis benefits landlords, and tenants who pay their rent on time.
When the tenant is made aware that you automatically report tenant pay habits to a Credit Reporting Agency on the 3rd day of each month, they will likely make a concerted effort to be prompt.
Landlords may wish to advise the tenant that by making timely rent payments, he/she will benefit from it. Many tenants do not have a good credit history and are often denied tenancy as a result; this is an opportunity to create an exemplary tenant history, thus affording a better opportunity for future tenancy.
What is the best part about Reporting Tenant Pay Habits?
It doesn’t cost anything and it will positively impact your landlord business and it will positively impact your tenant when rent payments are made in a timely manner. Conversely tenants that do not make timely rent payments, and leave you stuck with unpaid rental fees or damaged rental property, will be negatively impacted by their inconsiderate actions when you report the pay habits to TVS. They will become known as high risk tenants!
Receiving timely rent payments reduces risk of income loss, hassles, stress etc.
Reporting tenant pay habits will result in fewer tenant debts, tenant evictions and fewer tenant collections. Tenant debts are always a sore point for landlords and there is very little that can generally be done to collect tenant debts.
Educate your tenants via www.tenantsinfo.com about their rights & responsibilities. This site serves as an educational tool for landlords. Part of your landlord criteria should be that tenants familiarize themselves with tenant responsibilities and you can tell them that you have done the same with respect to your responsibilities. You are likely to have fewer problems when you and your tenants are familiar with Responsibilities and Rights. When education becomes part of the landlord/tenant process your landlord business will be rewarded.
TVS provides more than a tenant screening or tenant check service, TVS in conjunction with landlords & tenants can make renting a pleasant experience.
