One of the more difficult and time consuming services we professionally manage is the challenge of delinquency. Most of us avoid confrontation (and for good reason) when we can, however at times issues need to be addressed. This can be intimating and daunting for most owners, however with good screening techniques and programs set up to ensure payment is received, the likely hood of problems decreases.
It’s true mostly everyone tries to pay their rent or mortgage on time. However when it’s your property and you don’t receive payments, the ramifications as you know can extend into late charges, calls from the bank, and lack of resources to pay other bills.
We try to avoid situations like these by using the following methods:
- Rigorous screening BEFORE a contract is signed
- Clarity on what will take place as delinquency occurs
- Open communication throughout the process with all parties involved
- Assess late payment penalties to the delinquent individuals
- Consistency with delinquent messages (before, during, after) situations arise
- Professionally handle the situation so no bad will is accrued
Sometimes despite your best efforts, breakdowns still occur and confrontational situations arise resulting in evictions. Unfortunate as this is, you don’t have to rely on your expertise and know how to get it done. You can imagine the stress and anxiety this would cause for someone inexperienced in dealing with these matters. If you have questions and need assistance give the experts at Western Management Associates a call at 801-278-5060 and they’ll be happy to help.