When I was at a speaking engagement, someone in the front row remarked how he couldn’t believe how I still collected my rents in person. Although we had never met before, he was implying: With all of my experience I should know better by now.
I found in 1979 that most people who rent from me have no concept of what a stamp and envelope are, aside from where to buy them. In fact, they don’t even have checking accounts!
Having learned this early, I put together some self-addressed, stamped envelopes and handed them out to all of my tenants, blindly hoping they would mail money orders. This would certainly put an end to the awful task of rent collection, not to mention the expense involved in using a city, special-duty, uniformed policeman.
What do you think happened? Well, no checks came in the mail. In addition, I found that they had removed the stamps for more important mailings.
Do you think what separates me from my critic, and the masses at large, is that I not only charge rent---------but I collect it as well? Contemplate the fact that I not only buy wholesale, complete repairs cheaply, but I actually collect market rents as well. Scary, isn’t it?
H. Roger Neal™
No comments:
Post a Comment