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Just Answer the Dang Phone

By Melissa Huff, originally published by XPS on August 17, 2023

For a good many of us, occupancy has dropped back into the upper 80s or low 90s. We are no longer riding high on 100% occupancy and ever-increasing rental rates. Delinquencies have risen. While some of this rise is due to economic hardships for our tenants, I’d be willing to venture that a big part of the reason is the lack of attention we have had to give to collections in the past few years. When you have occupancies of 100% and a waiting list to boot, the fear of delinquencies is negligible. All you have to do is auction the delinquent tenant, replace them with a new tenant from your waiting list and charge them a higher rental rate. It’s a win-win. Now that the waiting list is empty, and so is a handful of your units, a growing delinquency list is a bit scarier... (read more)

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