The 5 Fundamentals of Property Management: Fundamental 4 - Collections
The Multifamily Ethos Podcast continues its Five Fundamentals of Property Management series with Fundamental #4: Collections.
Effective rent collection goes beyond collecting payments. It requires a consistent process built on accurate reporting, proactive communication, accountability, and respect for residents. In this episode, host Carlyle Swafford is joined by multifamily professionals Elora Michel and Ashli Mote to explore how strong collection practices protect property performance while maintaining positive resident relationships.
Build a Consistent Collections Process
Successful collections begin with clear expectations and a disciplined monthly process. The Collections Fundamentals framework emphasizes ledger accuracy, pre-due reminders, early outreach, commitment tracking, consistent escalation, and proper payment reconciliation. Ashli Mote, a property manager with more than a decade of multifamily experience, explains the importance of staying organized: “It’s really about communication and consistency and having a plan in place and following that plan every month.” From discussing payment expectations during leasing tours to scheduling reminders and documenting delinquent accounts, a proactive approach helps teams stay ahead of challenges rather than simply react to overdue balances.
Balance Accountability With Compassion
Collecting rent is a business responsibility, but how teams communicate with residents matters just as much as the process itself. The Collections Fundamentals framework encourages professional, respectful communication through approved channels, along with clear payment options and assistance resources when available. Carlyle emphasizes the importance of empathy, explaining, “You have to keep the process moving” while also recognizing the financial challenges residents may face. Ashli reinforces that perspective: “We can be gentle about it. We can be kind about it.” By combining consistent expectations with genuine human connection, property teams can support residents without compromising their responsibilities to the property.
Coach Teams and Create Accountability
Effective collections require leadership, training, and clearly defined responsibilities at every level. From daily aging reviews and documented resident interactions to reporting and forecasting, teams need to understand both their individual responsibilities and the bigger picture. Elora Michel, a district manager with approximately 15 years of industry experience, shares her leadership philosophy: “I don’t ask who owes, I ask what’s the plan.” Rather than simply reviewing delinquency numbers, she focuses on coaching managers, identifying root causes, and developing actionable strategies. This approach helps create stronger teams that understand not just what needs to happen, but why it matters.
Measure Performance and Protect the Asset
Strong collections performance depends on tracking meaningful results, including current-month collection rates, total delinquency, promise-to-pay commitments, bad-debt write-offs, and average days delinquent. These metrics help leaders identify trends, forecast cash flow, and address issues before they escalate. As Carlyle explains, “Collecting the rent is the lifeblood of the property.” Elora echoes the importance of strong leadership and communication, noting, “Great collections is really great communication at the end of the day.” When teams combine measurable goals with consistent execution, they can better protect the asset, strengthen accountability, and support long-term property performance.
Watch Fundamental #4: Collections on the Multifamily Ethos Podcast to hear Carlyle Swafford, Elora Michel, and Ashli Mote iscuss practical strategies for improving rent collections, coaching on-site teams, navigating difficult resident conversations, and balancing compassion with accountability.
Subscribe to Multifamily Ethos so you don’t miss out as the conversations around the remaining 5 fundamentals: turns, collections, reputation, talent, and leasing.
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