Real Estate investors need to have a reliable cash flow in order to make a profit, and the most important factor in maintaining a reliable cash flow is being able to collect rent on time, consistently. The best property managers know that collecting rent on time starts long before the first month's rent is even due. By taking these two essential steps, they create a much greater chance that their tenants will pay rent punctually. These steps are practical marketing and advertisement of the property and screening potential tenants thoroughly. Like any other investment manager, the best property managers always have their clients' two goals in mind: making money and minimizing risk.


If an owner has hired a competent property manager, receiving payments from their rental property is the last thing they should have to worry about. In order to maintain the process of rent collection and distribution, the finest property managers weigh three things, namely reliability, speed, and transparency.


An experienced property manager addresses these factors by receiving rent payments from tenants on time, getting rent payments to owners as soon as possible, and keeping property owners in the loop on their investments. Benchmark Management Group has systems and processes that make this easy for the tenant to pay their rent.


The greatest property managers minimize the risk of missed or late rent payments by going through a thorough screening process for potential tenants. This process assesses the likelihood that a tenant will keep their rental property in good condition and uphold the terms of their lease agreement. The potential tenant's track record of paying bills on time and whether they can afford to pay the rent amount are two critical factors that must be assessed. At Benchmark Management Group we make sure we do a thorough background check, verify prior rental history and very employment.


Once you've found a good tenant, it's time to get down to business. It doesn't end there, though, when it comes to reliable rent collection, additional automated procedures are implemented once a renter has been obtained. The emailing of invoices 1-3 days before rent is due has been found to be quite effective in reminding renters to pay. Making paying rent easier by providing more than one payment option also aids in this process. Benchmark Management Group uses a very efficient and reliable payment processing system. We use a system that streamlines payment processing and delivers payments to owners within days. With more people moving away from traditional payment methods, it's important for property managers to offer online payments.


Furthermore, the greatest property managers strive to get their owners' payments to them as quickly as possible. At Benchmark Management Group we have a process that remits payments to owners electronically directly deposited into their bank accounts on the 15th of each month. 


Moreover, the most excellent property managers grasp the benefits of their owners being able to see what is happening with their investments whenever they want. Immediate visibility into their rental property account lessens anxiety and diminishes miscommunications that can use up considerable time for both the owner and manager to fix. Owners will be relieved of anxiety and the necessity to contact management if they can get access to their accounts online. Benchmark Management Group uses a high-quality internet portal that provides owners the ability to view current balances, transaction history, and reports. Clear payment records not only keep property owners informed about all income and expenses, but they also enable problems to be addressed quickly.


Benchmark Management Group focuses on placing the right tenants and using efficient payment processing practices so owners can receive payments regularly and on time, all this is done smoothly with the help of an experienced professional property manager. If you're searching for someone to make rent collection a breeze, Torey Eisenman and Benchmark Management Group are your best bet.