How to Encourage Tenants to Pay Rent On Time

Being a landlord can be a difficult job. You have to deal with special situations each month. Each late payment has a sob story associated with it. Here are some ways to ensure that rent gets paid on time, every time.

Instructions

1. When taking applications for new tenants, call a former landlord (not current landlord) and ask whether the tenant paid rent on time. If there were any issues, don't rent to that person.

2. Be very strict about the terms of the lease. Enforce the rules set forth in your contract. If rent is due on the 1st, it is late on the 2nd. If your lease assesses a late fee for late payment, do not let tenants pay late without paying the fee.

3. Give an incentive for consecutive on-time payments. Give the tenant a reward for paying 12 consecutive payments on time. A reward such as a free tv or something else for the home is a great option.

4. Don't be afraid to evict. Begin the eviction process as soon as allowed by your lease and by state law. You won't usually have to actually complete the eviction process. Serving your tenant with an eviction notice is usually good enough to get results. It also sends a message to other tenants that you mean business.

Tips & Warnings

• Work with your real estate attorney to learn your state's specific rules on the eviction process.