I need suggestions please: We are 4 days into the month already and I still have $56K outstanding.

I need suggestions please.

We are 4 days into the month already and I still have $56K outstanding. I know it’s still early but I ended last month with $28K outstanding, I only have 196 doors. I do daily balance due emails, calls, and texts.

What are y’all’s suggestions to help me get this money in the bank?

Knock on doors and create urgency and seriousness about sending accounts to eviction on the expiration of 3 day notices and the impact an eviction can cause.

Lisette Ramirez I do the door knocks when I can but can’t always get out of the office due to staffing issues.

Tésa Pickerill consider your costs. If shutting the office for an hour to go knock on doors will get you $20k in bad debt paid, is that worth it to miss a few phone calls or walk ins? Probably.

Yep. Reach out in Writing. (Email). Put in their file you’ll be sending them to eviction. Send 3 day. Then if not paid after 3 day. Send them on over

Stop approving apps that don't qualify

Brittany Stroud I just took over from a bad manager and am trying to enforce our policies but this group thinks I’m lying.

Tésa Pickerill building trust with residents after their experience with a bad mgr is difficult. Find that ONE resident who tattles about everything to the rest of the residents. Gain THAT resident's trust, and they will do 90% of the work for you in gaining trust from the other the residents. THEY will spread the wonderful news about the "great new manager who is looking out for everyone, and you can trust her!".

Tésa Pickerill start eviction process and they will see how serious you are

Have you ever looked into offering "Flex" at your community? I read a bit awhile ago from someone who shared on this page and apparently it's a program that gives renters extra time to pay or pay weekly or bi-weekly. The community gets paid even if the renter doesn't pay it back to Flex. Maybe that would help with some of that potential past due balance going forward.

Lori Segura we just rolled out flex this month, some signed up and other just think it’s a scam because the last manager was bad. I’m hoping as the months go by they all get on board.

Tésa Pickerill I'm fortunate and usually don't have any delinquent rents but I've got a small community but some of our other properties in our portfolio have tons of delinquents, I was going to suggest they look into the program but wanted to see how/if it really helps. Please feel free to share feedback on it down the line.

I can definitely do that!

Lori Segura flex is pretty great! It definitely helps with our delinquency.

Call each delinquent resident and ask if they are okay. Offer payment agreements, connect people with local assistance agencies. Offer the most delinquent ones the option to just leave, with the ability to sign a payment agreement to pay down their balance over time. Be kind, remember, no one wants to be behind on their rent, I’ve found that working with people and helping them solve their problem will usually solve your problem

Dave Holland I am one to offer those things but the owners are cracking down on having payments in sooner than the 15th. I just feel like I stepped into a bad situation and from their point of view(online reports) i look horrible even though I’m cleaning up the mess I was given.

Tésa Pickerill I assure you that if they have reports from before you got there to when you took over the position, you do not look horrible. It takes time to reset and get the site back on track but stick with your company's policies and procedures. Have compassion but let them know that you still have to uphold the lease terms and conditions for better or worse. Provide agency contact information if people are suffering, and communicate your due dates and dates of late fees and filing dates. You've got this. Stay strong.

All things with time. There’s a reason they hired you over someone else. Keep at it, even a 1% improvement over last month is still an improvement

Most of the money that comes in is going to come in with zero effort on your part. It will just come in naturally on it’s own. Ending a month with that much outstanding with so few doors is really weird though.

Miles Scruggs it’s 4 small properties, all HUD and one low income. The last manager was waiving fees and such for payment or items on the side.

When I stepped into a poorly managed property, I was straightforward with the residents. They were used to management saying things and not doing them. I just started saying “look, I know you haven’t had a good experience. I’m trying to change that. But I can’t change it if you won’t talk to me and put up a brick wall every time I try to do something to turn it around. I promise I won’t let you down, please give me a chance to change things.” It helped level set everything.

I don’t know but if you figure it out let me know. We have a grace period until 6 th of month

Ppl might simply not have the money tbh. With cost of food and gas, it may have caught up with your residents. Especially with this big waive of covid, depending on your demographic, some might have been unpaid during the sick time. Obviously do what the others suggested, but keep in mind the human factor part of it too.

Follow your company policy on delinquencies. It will take some time and evictions, but consistency is key. I send a bulk email on 1st stating rent is due. Again on 6th reminding them. (My state has till 10th grace period). 11th is another bulk email stating late fees have been added. Delinquency notices go out via email and to unit. notice to quit on 12th. Then summary process if needed. I also send out balance due notices about 27th of each month via email and to unit.I have 185 units market & section 8 vouchers. I've been under 5% delinquency following this method. But it took time to get the residents to used to the fact this is the policy to continue residency.Always remember consistency is key! Good luck! You can do it!

Going to have to bite the bullet, do the 30 day non payment for federal properties on the 10th do a knock and talk , on the 15th give them a profile notice. On the 20th another knock and talk then on the 6th of the next month file with the attornies the judges will side with you ad you have given them the added effort to collect and make sure they realize all will go to the attorney. There has to be people on your waiting list if your HUD and low income properties get rid of the ones that can't pay and the ones that realize your a legit manager and stand by your word will come up with the money.

Is your resident selection criteria right? That may need to be adjusted. Since I opened my property in Aug 2020 most months I have zero delinquent on the 6th.

Are you collecting parking revenue too? You might want to hand off parking to someone like Parkade who can handle payment compliance (or tow non-payers).

Shut off internet

Hold packages or place a 5 day notice and log it as a package

Here you go. 1. I'm assuming you are 95% occupied.2. You can tell me today every one of those$28k folks and I bet they are the same EVERY month.3. Start sanitizing your residents. DNR is a great weapon for troublesome residents. You need to have the courage to use it NOW while your market is strong. Word will get out.4. FILE for eviction on the first date allowed by law/lease. Probably the 6th in most markets! No exceptions. Word will get out.5. Only allow ONE pay and stay. After that they are out. Word will get out.6. Once they are late, shut down your payment portal and require certified funds.

I feel your pain. I have the same late payers every month. They don't seem to think a roof over their head is important. I don't understand. Bring back the days of filing eviction on the 10th. Please

Knock on doors! If our residents havent contacted us before 5th with reasonable payments arrangements I file on 6th so it will be 8th this month because its always the same ones.

I have been at my current property for a year now and all but 1 month closed my books under 1% but when before we bought the community they were at 20% delinquency. Consistency is a big factor, I have my normals that are late every month but when the 1st hits they call me and tell me. After my 1st 2 writts they knew I wasn't playing...btw I bill out over $500,000 a month on 325 units

Your daily notices are making them know you not mean business file on all them allow one time bye out and after that they will be paying timely

I stepped in to a property like that. Two evictions and word spread. They can either apply for rental assistance or go. You need to show them you are serious or they will continue

Do you do walks and talks? Do they have guarantors you can call?

Consistency. Set up policies. Follow them the same for everyone. If someone says that they're having difficulty paying respond that we understand that some have more difficult circumstances than others but you have to understand that it wouldn't be fair to others if some had to pay rent but others did not. For old balances, again consistency. Make arrangements on old balances but must stay current on current balances while paying off the old. If there are 6 mo left on the lease divide old balance by 6 to figure out the extra monthly payment so they will be caught up by renewal time. If they do not get caught up, give non renewal notice. Those that don't follow up with you, eviction is the answer. A wise supervisor once told me, "we are running a business, we are not a social service agency ". I've found that often "low income" or "fixed income" residents are often the best at budgeting bc they know exactly how much they have to work with

Our company ended up partnering with Flex, and then gradually doing away with LPAs. That really helped alleviate the issues with the repeat non-payers. Keep in mind that as the new manager, you are setting the tone for what to expect if they don’t pay. If you aren’t aggressive right from the start, it will take much longer to overcome the problem. Believe me, if you start evicting those late payers word will spread fast and you’ll start collecting more rent quickly. I’m not trying to sound heartless towards the residents; it’s the cost of doing business in our industry. I hope you get the help you need soon!

1) Export delinquency into excel and data sort from highest to lowest

2) Take on the top 10 balances

3) Check with your Supervisor to see which sister property has the lowest delinquency and ask if they can help you with the next top 10

4) Have another sister property follow-up on the next top 10

5) Provide the excel to the maintnance team so they are aware of who has a balance and to ask that they call you if they see the resident

6) Call your collections agency and see how they are doing on collecting bad debt

7) Is your laundry equipment up and running

Anything on the property you can charge for ? Reserved parking, etc

9) If they are at the end of their lease ensure they are not renewing and going to MTM