Why is timely verbal and written follow-up on tenant late payments important?
Documenation is an important thing to have, but it is reactive in nature. It is also important to contact the tenant by phone or email if needed. Automated systems are great, but tenants tend to respond to a combination of automated documentation and contact from the property manager. Once again our goal is to limit the time that it takes for our property owners to receive their payments. If a more severe long term situation has developed, it is also important to know sooner rather than later.