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| Christmas Arrears 2 replies 3 voices |
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Clint A
on Dec 13, 2011 4:43pm
Property Manager Theo Poulos Real Estate Katoomba NSW |
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Just want to see what other peoples ideas are to avoid arrears over the Christmas period… I know it should all come back to tenant education from the beginning etc, but has anyone had any luck with running promotions or competitions for tenants to avoid arrears at Christmas? We currently have a business coach who we sit down with once a month and has put forward an idea to get tenants to agree to pay an extra $10 per week on top of their rent, if they do so for the whole year they go in the draw to win a weeks free rent, paid by the agency. It’s meant to be seen as building good report with the teannts, helping them build a positive ledger as well as showing owners a proactive approach towards arrears.
Anyone done something similar in the past? Success’/failures? |
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Scott Falzon
on Dec 13, 2011 6:02pm
Business Development Ray White The Entrance N.S.W |
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That’s a new one we haven’t done anything like that but were giving tenants movies tickets to the local cinema if they were 2 weeks rent in advance. For some tenants we sked them to maintain the advance rent for 3 months which seamed to work we went from 17% arrears to an average of 5 – 7%. Even once they got there tickets we sent them certificates saying they were 3,4,5 star tenants and once people got a 5 star rating most of them maintained it for quite some time. Good luck let me know if you find the silver bullet |
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Sarah Dencio
on Dec 14, 2011 8:07am
Property Department Manager Munn Partners Real Estate Melbourne Victoria |
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I just sent my tenants a few letters / text messages through November and December to remind them when we are open and when we aren’t and that arrears won’t be tolerated. Since I started here I’ve got arrears down to about a 3% average simply by acting as harshly as I can for any rent arrears and letting tenants know it won’t be tolerated. My tenants don’t dislike me for it because on the other side of it I also let landlords know that outstanding maintenance won’t be tolerated so everyone is happy :). When my tenants sign up I encourage them to pay a little extra throughout the year and then call me before their payment for Christmas to let them know how much they need to pay (which is often minimal) to get them through chrissy. Works for me but I’ve only got a small rent roll and I know that it is harder to acheive with a larger rent roll. |
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