Rent payments

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This topic contains 5 replies, has 2 voices, and was last updated by  MikeL 6 months, 1 week ago.

  • Author
    Posts
  • #1956

    Chelizno1103
    Participant

    I know rent is typically a monthly payment but has anyone ever worked with a tenant and done weekly or bi weekly payments? If so, how did it work out? Better or worse than monthly?

  • #1972

    MikeL
    Participant

    I ran a couple rooming houses, and collected rent weekly. You had to with those tenants, they were pretty transient.

    I wouldn’t do more frequently than monthly normally, unless you had a tenant trying to get caught up.

  • #1973

    Chelizno1103
    Participant

    Mike why would you not do more frequent?

  • #1990

    MikeL
    Participant

    There’s really no benefit to the landlord to collect more frequently than you have to. If your collecting by check or money order, it’s just another deposit you have to do.

  • #1993

    Chelizno1103
    Participant

    Thanks for the input. That makes sense. I set up an account with my bank and tenants deposit rent into that account. But I do see your logic. I was just trying to see others views on it. Thanks again

  • #2008

    MikeL
    Participant

    No problem

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