HOW TO COLLECT RENT AT YOUR GROUP HOME

TWO QUICK TIPS THIS SATURDAY AS WE GO INTO THE 4th OF JULY HOLIDAY

HOW TO COLLECT RENT AT YOUR GROUP HOME
#1. When the first of the month falls on a Friday and especially when there is a Holiday that weekend, START HOUNDING YOUR RESIDENTS / TENANTS FOR PAYMENT
Look, whether you run class A multi-family or Class D stuff (or somewhere in between like many of my GROUP HOME subscribers do) you will ALWAYS have a certain % of people that are going to SPEND ALL THEIR MONEY during that time period.
Your job is to get to them before the grocery store, liquor store or amusement park does.
Let me explain. Today is June 30th. July 4th is on Wednesday. Most people were paid yesterday or will be paid on the 2nd or the 3rd. TRUST ME, they are thinking about celebrating July 4th rather than paying their rent!START GETTING ON THEM TODAY.
TEXT, PHONE CALLS and IN – PERSON REMINDERS.
Get your house managers to start hounding the residents TODAY!

HOW TO COLLECT RENT AT YOUR GROUP HOME!!!
Obviously, if you are the REPRESENTATIVE PAYEE like I teach in my GOLD COURSEand checks like the one above get direct-deposited into YOUR bank account, then this is a NON-ISSUE.

(If you don’t know what a rep-payee is, click here to read about it on my BLOG)
Nonetheless, this is something SUPER IMPORTANT for you to know. I have been doing this 20+ years and I require all my managers to hound their people when the 1rst falls on or near a holiday
#2.
YOU CANNOT LET PEOPLE MOVE IN WITHOUT $$.

HOW TO COLLECT RENT AT YOUR GROUP HOME
Will TIME WARNER OR CHARTER COMMUNICATIONS come to your home and set up your cable TV without you first paying them? NO!
Can you move into an apartment without paying rent and deposit??? NO!
Remember, you are running a business. For Profit or NON-PROFIT you need to collect PRIOR to move in. NO EXCUSES.
Although this is SUPER OBVIOUS, I still get emails and phone calls from my GOLD COURSE and COACHING CLIENTS who are making this mistake!

DON’T DO IT!
HOW TO COLLECT RENT AT YOUR GROUP HOME
I trust these two Saturday TIPS are extremely helpful. Although they maybe obvious, going back to the fundamentals is important periodically.
If you are interested in learning both the FUNDAMENTALS of GROUP HOME OPERATIONS AND INVESTING and also the techniques, strategies and all the nitty gritty stuff you need to operate your 1rst or 20th care home, check out my
GOLD COURSE
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