Any landlord who collects there own rents can very easily get themselves in a pickle when it come to the date that the rent is due. Take for example this recent example on our legal forum where a landlord who has attempted to simplify things buy taking an odd few days of rent has in fact made life probably far more complicated.
The reality is that when it comes to rental payments it's very easy to get confused. A classic one is when landlords try to calculate the final rental payment. In essence the tenancy agreement is the starting point of when rent is due. But as this example confirms. We are all victims of the asymetrical Roman calender invented thousands of years ago. Therefore if you try and be clever with your rental due dates. It might be worth stopping to think first.
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I really believe collecting your own rents and managing your own properties is counter productive.
ReplyDeleteIf you're in property investing with the aim of becoming financially free, then by self-managing, all you're doing is giving yourself another JOB.
And you can avoid any software issues too ;-)