If I raise the rent my tenant will move. Clearly, if you never raise the rent the market moves and your rental return only decreases. Residents appreciate our prompt service and pay us more for rentals comparable to those being self-managed by individual owners. Tenants won't ever move from a well managed rental. It costs too much to move, and most residents only move out to move up to better service.
Tenants really have trouble paying the rent on time.
In this country today, consumers have their debt stacked up to the max. If your resident needed a third VCR, they'd come up with money. Yet when rent is due there is always an excuse. There should never be an excuse in the delivery of timely repairs, and there should never be an excuse without penalty in the failure of a rent payment to arrive by the first. At GTF we pride ourselves on guaranteeing our owners that they will have their checks by the first of the month or a late charge will be added.