Adjusting First Month Rent?

[Nir]

Hi,

When accepting a new tenant do you adjust the first month rent so that from the next month rents will be paid on the first day of each month even if tenant enters unit in the middle of the month? This way all rents eventually are deposited on the first day of the month, more efficient for the landlord. OR: do you not care going to the bank every day?

THANKS.

 

[trev]

QUOTE (investmart @ Apr 1 2009, 09:03 PM) Hi,

When accepting a new tenant do you adjust the first month rent so that from the next month rents will be paid on the first day of each month even if tenant enters unit in the middle of the month? This way all rents eventually are deposited on the first day of the month, more efficient for the landlord. OR: do you not care going to the bank every day?

THANKS.


When I have done this I have always adjusted the first months rent. The less trips to the bank, the better.
Better yet, I have been encouraging tenants to email the money.

With email payments:

• Some tenants have even started making partial payments ahead of time to help budget themselves.In the event that they encounter problems and call to say they may be late, it is easy to get partial payment as opposed to no payment because the cheque won`t clear.

 

[Thomas Beyer]

QUOTE (investmart @ Apr 1 2009, 07:03 PM) When accepting a new tenant do you adjust the first month rent so that from the next month rents will be paid on the first day of each month even if tenant enters unit in the middle of the month? This way all rents eventually are deposited on the first day of the month, more efficient for the landlord.
yes

 

[Nir]

Thank you both!
Neil