We all need a little hand in life. One of the tricks that most of us develop is to create a “reminder system”. Whether it is a datebook, a calendar, or increasingly an online to-do list, reminders help us keep on track with the things we need to do. As a landlord, reminders are also a great way keep your tenants on track to pay the rent to you. Wouldn’t it be great if there was a way to automatically email your tenants each month a rent reminder? Fortunately, it is possible to generate automatic rent reminders with a service like ClearNow (www.ClearNow.com).
The Power of Reminders
Do reminders really work? Maybe it is common sense, but it turns out that psychological studies show that reminders really do work. Interestingly, studies show that while reminders are very effective (causing 30% more activity sometimes than without the reminder!), people consistently underestimate how effective reminders actually are. What does this mean in practice for landlording? It means that rent reminders are effective, but we probably undervalue how effective they truly are.
Automatic Rent Reminders Built In to Online Rent Payment
What’s an easy way to implement automatic rent reminders? It turns out that many online rent payment services, like ClearNow (www.ClearNow.com), send out an email rent reminder ahead of time. With ClearNow, an email rent reminder is sent eight days prior outlining the rent to be pulled and the debit day. The reminder encourages the renter to have the proper funds in their bank account.
Online rent payment is already a great process. It allows landlords and tenants to pay rent on time without doing any work (and thus without any procrastination). It can build tenants’ credit history. Automatic rent reminders are just another reason to consider using an online rent payment service for those services that, like ClearNow online rent collection, automatically build it in to the process.