In real estate investment, there are endless ways to run your business. Because yes, it’s a business. Ultimately, deciding how you want to run it is down to what you prefer and what you enjoy. One of the most important elements is how you handle rent money. If you’re landlording, you deal with this directly—if you have a property manager, they handle it, but you should still be in the know about the process.
After all, certain ways of taking and processing your rent payment may be more efficient and can even increase the chance of your tenants paying on time. They may also have negative effects you may not have considered…