How can you use professional development resources to improve rent collection?

2 Join a network

Another way to improve your rent collection is to join a network of other property managers who can offer you support, advice, and feedback. You can find online forums, groups, associations, and events that connect you with peers who share your challenges and goals. By participating in these networks, you can exchange tips, ideas, and resources, learn from other's experiences, and stay updated on the latest trends and regulations in the industry.

4 Seek feedback

A fourth way to improve your rent collection is to seek feedback from your clients and tenants. You can use surveys, reviews, testimonials, and referrals to gather information and insights about your performance and satisfaction levels. By seeking feedback, you can identify your strengths and weaknesses, address any issues or complaints, and improve your service quality and reputation as a property manager.

5 Set goals

A fifth way to improve your rent collection is to set goals that can motivate and challenge you. You can use SMART criteria (specific, measurable, achievable, relevant, and time-bound) to define your objectives and indicators for rent collection. For example, you can set a goal to reduce your delinquency rate by 10% in six months. By setting goals, you can monitor your progress and results, celebrate your achievements, and adjust your strategies as needed.

6 Be consistent

A sixth way to improve your rent collection is to be consistent in your policies and practices. You can establish clear and fair rules and expectations for rent collection, such as due dates, late fees, grace periods, payment methods, and consequences for non-payment. You can also communicate these rules and expectations to your clients and tenants, and enforce them consistently and respectfully. By being consistent, you can avoid confusion and conflict, build trust and credibility, and maintain your professionalism as a property manager.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?