RENT Magazine Q2 '21

COLLECTING RENT DURING A PANDEMIC It’s true that there may be more tenants behind on rental payments, but if you have been in this industry for even a short period of time, you understand that non-payment of rent is an issue that all landlords will deal with at some point.

The steps you take to collect rent during a pandemic are not drastically different from the steps you should take to collect rent during normal times. You may feel your hands are tied with moratoriums and court backlogs, but collecting an unpaid debt is more than a legal battle. It takes an understanding of social psychology, negotiation, and tact to truly see results.

Here are 5 methods that will enable you to collect rent more often and effectively:

1. Convey Empathy Conveying empathy to a tenant who is not paying rent may be hard, but the benefits are absolutely worth it. You are likely financially and emotionally invested in your business, but suspending your own reality to step into that of your tenants’ is the first step to conveying empathy. This can be as simple as acknowledging the tenant’s feelings and the challenges they are facing as well as showing gratitude for their cooperation in every communication. By doing so, a tenant will be more likely to collaborate with you to come to a mutual and beneficial solution which benefits both parties. Conveying empathy can also compel a tenant to pay their rent when they come across funds.

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