Efficient Service Aided by Technology.
“As tenants’ sales revenue drop, rent payment begins to deteriorate. It is at this point when your collection process and accounting information systems will show its deficiencies.
First you have to determine if your tenant has a viable business that will survive and if so do you need to provide immediate concessions such as deferring rent. But, for the majority of tenants they may just require additional communication to help reduce your delinquencies.”
One Stamford office building has gone to the dogs, and with vacancy rate at more than 20 percent in much of Fairfield County, the real estate company that represents the building said it believes it might be a good idea for others to follow suit.