Hello there fellow investors ...
There's nothing I like more than a hunky man on my doorstep, and I was lucky enough to meet Big Mark today when he called round for a meeting.
You see, I was having a problem with one of my tenants who had not paid this month's rent on time. We all hear about problems tenants, and "Tenants From Hell", but to be honest, in my three and a half years of being a Landlady, I've only experienced one bad tenant. Stastically, bad tenants are in the minority, but if you do have one, you need to know how to deal with them effectively. This is once again where education comes in.
So when the rental payment was late, I knew that, by law, I could call in a Registered Debt Collector straight away to pay a visit to my tenant and remind them that they owe me money. Hence a quick call to Big Mark to enlist his services. Now while it's great to know Big Mark on a friendly level, believe you me, you wouldn't want him darkening your doorstep for any other reason. He looks like Herman Munster and wears size 15 boots like canal barges. In other words, he's a BIG chap. And with his floor-length black overcoat, he looks exactly like what he is - a debt collector.
So, I've enlisted Big Mark's help to collect this month's rent and he assures me that he has a very high success rate. This is the first thing that you should do IMMEDIATELY somebody defaults on a rent payment. If you allow the tenant to go into two month's arrears, its probably too late, and you will be heading towards a court hearing. Use Big Mark to nip this problem in the bud. He can apply legal pressure to a tenant to pay the rent, or at least encourage them to communicate with you if they are having problems. When you have no line of communication with a tenant, that's when you know a situation is deteriorating.
I said in my previous post that I treat my tenants with respect, and I do - In return, I expect them to treat me with respect and pay the rent on time. If they don't, they can expect a visit from Big Mark.
It is a little known fact that you can legally enlist the services of a registered debt collector the day that a tenant goes into arrears on their rent. I hope you have found this information valuable as it has certainly served me well in this particular case. And, of course, I got to have tea with Big Mark .....
Got to go and take the rollers out of my hair now ....
Until next time, happy investing ...
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