Tips for Getting Your Tenants to Pay Rent on Time (#2 might surprise you!)
Published in
2 min readSep 8, 2017
If there is one thing almost all landlords have in common, it’s that at one time or another, you may have had a tenant who wouldn’t pay their rent on time. (See “The Hassle” section in this blogpost.) But never fear; here are few tips for encouraging timely payment behavior from your tenants!
- Up Charge Rent Each Day it is Late
- You may feel mean when you strictly enforce this policy. But consistently enforced, your tenants will take more initiative to pay their rent on time.
- Do Not Offer Incentives
- Don’t offer incentives for things that your tenants have agreed to do. This makes paying rent on time seem optional: “Hmm, the only thing I’ll lose by not paying rent on time is the chocolate basket my landlord promises for timely payments” could become a mindset.
Instead, reserve incentives for things that are, indeed, optional, like renewing their lease.
- Offer More Than One Form of Payment
- The senior citizens you rent to may prefer to write you a check, while the youngsters would prefer an online payment method. Providing options encourages your tenant to pay easily.
- Send Reminders
- Everyone gets busy. Your tenant may have simply forgotten to drop the check by the landlord office. Send them a quick text, or pick up the phone to remind them.
- Contract It
- Include the rent payment deadline in the initial sign-on contract. This gives you legal leverage when dealing with eviction, and sets a firm tone on the policy from the very beginning.
Pro Tip: Use a landlord management app to easily take care of points 3–5. Allow your tenants to pay online via a management app (BaseRent’s will soon be available!), then send as many friendly reminders as you want through the same app! Reminders will include an easy-to-follow link for how to make a payment
Originally published at BaseRent.