Collecting money is the easiest thing in the world to do because everyone always pays on time. Right? Wrong! While it is fair to say most will pay rent on time, many will not. And why not? Because they feel they don’t have to, or they don’t want to, or they found something better to spend their money on, and after all, couch hopping can be the “in thing”… until the welcome is worn out.
Debbie Liveris, Vice President of Accounts, states that when managing residents, it is about managing their expectations, not always being the enforcer, but also being the teacher. If you are not clued in with what’s happening with your residents, if you are not on top of your game, then you’re not going to collect. Simple as that! I have given many “life lessons” and budgeting advice to those who pay late, and typically when you show you care, and that you want to help, they are not late again…or rarely.
At Vie Management we take active measures to ensure that our rents are collected on time, every time, that delinquencies remain low and the couch invitation doesn’t get sent. We aim to make delinquency a thing of the past and currently we boast the lowest delinquencies at month end than many other top companies. We don’t care to leave money on the table at the end of the month!
Our collection efforts are directly related to our success in low delinquencies and ensuring our teams have the tools and training necessary to accomplish this feat. We listen to reasons why rent isn’t being paid, we respond, we plan, we focus and we collect. We focus on increasing NOI on a daily basis and one of the easiest ways is to increase our top line revenue which begins with collections.