All landlords know the importance of printing and mailing — especially since trying to reach tenants via phone or email often fails. Printing and mailing can be a difficult, expensive, and a time-consuming process, especially if it’s done in-house. It’s not uncommon for landlords to ignore the mailing and printing aspects of their business.
Focusing on reaching your intended target audience and will help you become more successful and reach more potential future residents. With that in mind, here are some reasons why outsourcing your printing and mailing services is one of the best things you can do for your business.
Improved cash flow
Making the decision to outsource your printing and mailing services will result in improved cash flow. Statement printing and mailing services can help you handle and keep track of your statements and invoices and allow you to quickly send critical documents. Such companies can keep your best interests in mind by offering different stock and pre-perforated paper options.
The faster you send a letter to tenants who failed to make a rent payment in time, the faster the tenants will pay you. In addition, consistent invoicing of rent payments has been shown to increase your chances of getting rent on time. Consistent invoicing leads tenants to treat rent as an obligation with the same importance as a car payment or credit card bill. Over time, this will lead to a significant increase in cash flow to your business.
No more purchasing supplies
Outsourcing your printing and mailing services means you don’t have to buy basic supplies, like paper and envelopes which add up quickly. For instance, if you need to print the summary of a simple rental application to file in your office, you won’t have to stress over buying ink for your printer before the showing.
Printing and mailing companies eliminate both the need to purchase supplies and the need to prepare everything yourself, saving you time and money in the long run.
Utilizing the help of a printing and mailing service will help you stay organized when it comes to bookkeeping — which is especially important when tax season rolls around. Come tax season, you’ll need to file to create a separate business entity to manage your properties under. You’ll need a record of rental income and expenses as well as the supporting documents for income and expenses. Ultimately, your income and expense record will determine whether you’re eligible for a taxable profit or a deductible loss.
Documents like cancelled checks, credit card records, and payment receipts will help you prove that your deductions are legitimate if you’re audited by the IRS. Since most companies allow you to print multiple copies of invoices and payment receipts, their services are non-negotiable. You’ll be able to send a copy to your tenant and keep one for yourself in a place with all the other records.
Whether you manage one property or 100, being a landlord is a real business and it’s important for you to treat it accordingly. Multiple calls or emails can annoy tenants and may further discourage them to pay rent on time. On the other hand, invoices send via mail help you maintain professionalism and consistency without seeming overbearing.
Although utilizing the services of a printing and mailing company may seem like a steep upfront cost, they’ll save you time, money, and effort in the long run. As a landlord, your focus should be on effectively reaching your tenants and potential future residents. Printing and mailing services will allow you to maintain your professionalism, stay successful, and properly run your business.