The U.S. Postal Service just announced a change that may slow receipt of rent checks.
By August, the agency plans to phase out its regular Saturday delivery service, in an effort to manage sustained financial losses.
Landlords who receive rent in the mail could be affected by slower delivery. For instance late payment fees triggered by mail delays may be disputed by tenants.
Going forward, landlords may want to consider these options:
Take another look at collecting rent using electronic means.
Notify tenants of the change to encourage earlier mailing.
Adjust the grace period in the lease to avoid triggering late fees prematurely.
Switch to a post office box address. Saturday delivery to P.O. boxes is expected to continue uninterrupted.
This post is provided by Tenant Verification Service, Inc., helping landlords reduce the risks of renting with fraud prevention tools that include Tenant Screening, Tenant Background Checks, (U.S. and Canada), as well as Criminal Background Checks, and Eviction Reports (U.S. only).
Click Here to Receive Landlord Credit Reports.
Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.