Rent collection idea

This may work for people running smaller MHP’s, maybe with some larger ones also. I can’t use it since I don’t own the park, however the idea was given to me by an owner of rental properties, and he said it worked well for him.

Instead of charging a late fee, which penalizes people for paying their rent late, he rewarded them for paying on time. If rent on a unit should be $300, he charges $325, and then cuts them a $25 check in the middle of the month for their rent being paid by the first. Some lower income families would count on having this $25 for whatever, after their first of the month money is spent, so it works well in low income units, too.

This same person brought it to my attention that I cannot ask a perspective tenant if they actually own a vacuum, but I could ask what kind of vacuum they have. This made a difference, he said, because if they spit out a brand-name right away, you know they clean their homes regularly and are likely to be better tenants.