No free space rent.$15 per space rent collected. If there are no late payers manager gets $30 bonus, if there are late payers manager gets $30 decrease. Manager collects the rent from the tenants(only check or money order) and then deposits it to the bank.This is for a small 14space park I’m about to buy, where the previous landlord wasn’t strict at all and almost everyone was paying late. What do you guys think?
I think you should not be like the last owner. I also think your manager is a big part of the problem.
Strictly inforce a no pay no stay policy rather than paying a bonus to your manager for properly doing his job.
Rent is due on the first of the month and anyone paying late should be paying a late fee. Repeated lates should result in eviction. Much simpler than wasting money on unnecessary bonus pay.
I agree with Greg 100%.