Be prepared for some of your clients to make late or nonexistent payments. High delinquency rates will significantly impact your working capital. Establish tight rules for tenants to follow to avoid collecting monthly payments. Rarely does turning to auction for off-limits things result in a sale price that covers the cost of missed rent to manage the storage units in Bromsgrove. Call possible defaulters regularly and consistently to warn them in advance. If required, mention that you’ll forego the late fees in exchange for receiving the back rent payment in cash.
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