How do we avoid tenants going into arrears?
Well, we started working through this one about 7 years ago. We turned it on its head and now we are in control because all rent received is via direct debit. This actually makes it easy for tenants to pay on time as we set the date and they know each month or each fortnight the exact day we will be debiting their account.
It also means, it is very clear when funds are not available in the account as the direct debit will fail. We explain the process to tenants when we go through the tenant induction. We are very proud that our arrears are consistently less than 1% of all properties we manage.