Anyone have any creative ways/ideas for lowering delinquency?

Anyone have any creative ways/ideas for lowering delinquency? Bonus ideas?

Avoid the problem from the start. Strict qualification requirements.

Persistent personal contact, free online payments

There are many ways, but it depends on the specifics of your property. I was once on a property where the online auto payments cleared on the 1st, and the water bill always posted right after, so we ALWAYS had like $11,000 in delinquency off the bat because people either didn't know or didn't care because it was just $25-$40. So if you have online payments, send a letter reminding them of the option to pay online and also remind them it's best to schedule payment on the 2nd. If your residents are the fun type, have a fall themed raffle for anyone who pays by the 1st and/or for zero balances by the 3rd ???? there's also sending out notices on the 4th and the 6th. Does your leasing staff know how to read ledgers? Are they misquoting move-ins?

Sandra Ti why wouldn’t the water payments just be included in the rent? Paying rent then paying the water bill right after the rent separate seems like a waste of time. Ours is included in the rent so we quote the rent per month plus a $10 water fee for example.

Alec Batchelder the water was submetered. It's charged based on actual usage. And the company that reads the meters also sends the statements.

The resident can pay them in one payment, but for whatever reason, the auto payments always cleared before the water charges.

Sandra Ti I had the same problem and I worked it out with yardi. I was so frustrated I would wait till midnight just so that I could post the batch manually that way the water bills hit the same time rented.It was a time zone issue I think. But I did tell my residents to autopay on the 2nd too.

Communicate with them constantly and the importance of paying on time as this will effect them when trying to rent someplace else or buy a home. Also do you charge late fees

We have spent our remote work hours sending emails and posting on our community site and working on the phone with delinquent households to find the resources they need. It is surprising how many people became ostriches and just didn’t even look for the help. With local agencies, state aid funds, expanded unemployment and cicvil relief funds, my property has less delinquency than we did in March. It might not seem like it’s our job to do the homework, but our residents success in renting is our job, from prospect to after move out. We are using the JTBD model everyday!

Here are 2 ideas!
1. Hold a prepayment drawing with a prize for one of your peeps who pays before the 1st! Market it every month, and then celebrate that month's winner on social! That has increased our early payers significantly, and we are only giving $100 to $200 gift cards, and only 1 winner per month!
2. Rent is due on or before the first and LATE on the second! Even if you have a grace period before a late fee is charged! So send a reminder/late notice on the second! And if you feel that's too overwhelming, at least contact in person or by phone EVERYONE who's moved in in the last 2-3 months who hasn't paid by the 1st. Contact them on the second, and say something like, OH MY! There must be some mistake? I can't find your rent payment and it was due by the first! ACT SHOCKED that it's not paid. Set a standard from the very beginning that rent is due on or before the first!
Hope these ideas help!

Mary Gwyn,

That is such a fantastic way to leverage your social media presence. I am an advocate of social media to promote a community in many different. The drawings will incentivize people to check the community's page, Facebook takes note of the traffic and the people's interest, and ensures your updates will show more often to them. Moreover, it increases your resident's loyalty.