Collection Management is an essential part of Property Management.
Excel Property Management’s general rule is that delinquency should never exceed 5% in all properties.
As mentioned in a previous chapter, the Department of Collections creates a monthly collection calendar with a list of responsibilities for every manager.
Throughout this chapter, we will discuss all of the tools at the office’s disposal to reach this goal at every property.
- Monthly Collections Calendar tasks, and where to find it.
- What text notifications are, and how to send them.
- What are Paper notifications and how to use them?
- What are Payment Plans are?
- What reports are useful for collections.
- What are evictions?
To ensure that everyone is begin charged the correct amount of rent, every manager is required to check the Summary Rent Roll at the beginning of the month.*
In the video below you will learn where to find the summary rent roll and how to read it.