Wait For Check to Clear

Here is an important point to remember. Do not undertake the work until the owner has sent you the necessary funds. It is difficult to ask your client for certified funds, as they may view such a request as questioning their honesty. Thus, accepting their personal check is almost a necessity.

Before undertaking any work you should have the check in your hands. The "check is in the mail" is never a safe bet. After receiving the check, protect yourself by waiting long enough for the check to clear. Remember that even though the owner signed the bid, you are here and your client may be thousands of miles away. Your vendor will look to you if payment is not made.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.