As a property manager you are reviewing a tenant application. The tenant provides the tenant ledger, shown above.

What are two strategies your property management team could use to help reduce the incidence of rental arrears?

 

 

Tenant Ledger Tenant name Marjorie Semple Payment made Amount paid 24/04/23 07/05/23 10/05/23 15/05/23 21/05/23 22/05/23 28/05/23 $1400 $700 $700 $700 $700 Property address Payment type Cash Cheque Direct debit Direct debit 14 Smallwood St, West Heights Rent paid to date 7/05/23 14/05/23 21/05/23 28/05/23 04/06/23 Notes from the property manager Tenant paid two weeks rent upfront. Start of the lease. Cheque presented at bank and did not clear. Property manager sets up direct debit for tenant. The tenant is now one week in rent arrears. The property manager instructed the tenant to make a one-off rent payment of $700 to remove the one week in arrears. Direct debit failed. Capture the next day. Tenant in rent arrears by one week.