It would be nice if I had one of those boxes so renters could pay rent and electric in ONE payment. If renters don't pay rent they don't get electricity either. I already checked on this if I build it this device myself and renters sign a lease agreement it is legal. I would have to keep utility bills in my name and ad that to each months rent.
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From a business standpoint that gives you more problems. Now you have to collect rent AND electricity money from the tenant, even if bundled together that still represents trying to collect a larger $$ sum each time, which is more difficult.
Maybe you could try a different system, like make sure your tenant has a job as a requirement before renting, and then in contract you arrange to have rent auto deducted every week from their weekly pay packet the instant it hits the bank. The bank will just take X dollars from his account and put in your account.
And if it defaults for even one week (like if he loses his job) the bank are required to notify you, so you know there is a problem almost instantly and can do something with your 4 weeks prepaid bond and have up to 4 weeks to evict and find a new tenant.
I think another way of handling the situation is to hire property management company that is local to the rental.
The normally do credit checks, collect the rent, take care of minor maintenace problems and pay the owner. Yeah they charge a fee....but in the long run that may be cheaper and less headaches of trying to manage over long distance. Some communities have real problems with turning of utilities, expecially if there are minor children in the dewelling.
I think another way of handling the situation is to hire property management company that is local to the rental.
The normally do credit checks, collect the rent, take care of minor maintenace problems and pay the owner. Yeah they charge a fee....but in the long run that may be cheaper and less headaches of trying to manage over long distance. Some communities have real problems with turning of utilities, expecially if there are minor children in the dewelling.
I will NO longer do business with property management companies. ....
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