Resident Partial Rent Payments

Topic Author

K David Meit, CPM®

Posts: 16
Thank you received: 1

5 years 2 months ago - 5 years 2 months ago #31319 by K David Meit, CPM®

Resident Partial Rent Payments was created by K David Meit, CPM®

Folks,

Looking for feedback regarding accepting partial rent payments. Assuming owner not precluded from partial payments due to local laws or pending L&T litigation, will you accept partial rent payments?

If yes, why?

If no, why?

Thanks for the feedback!

David Meit

5 years 2 months ago - 5 years 2 months ago #31319 by K David Meit, CPM®

Gerry Hunt

Posts: 82
Thank you received: 6

5 years 2 months ago #31323 by Gerry Hunt

Replied by Gerry Hunt on topic Resident Partial Rent Payments

No partial payments. If you do accept partials, it would be a good idea to have a signed agreement, with terms.

5 years 2 months ago #31323 by Gerry Hunt

Anonymous

5 years 2 months ago #31324 by Anonymous

Replied by Anonymous on topic Resident Partial Rent Payments

Absolutely. Something now is better than nothing now. As far as the terms go, I use the “Eviction Holdoff Agreement” found in Blue Moon.

5 years 2 months ago #31324 by Anonymous

Felicia Queen

5 years 2 months ago #31325 by Felicia Queen

Replied by Felicia Queen on topic Resident Partial Rent Payments

Partial payments should be eliminated. They are a leading cause of chronic delinquency issues. When implementing our 100% Collected program it's the first thing we eliminate. Ironically, it's also the number one item we get pushback on from clients.

5 years 2 months ago #31325 by Felicia Queen

Britni Ruiz

5 years 2 months ago #31326 by Britni Ruiz

Replied by Britni Ruiz on topic Resident Partial Rent Payments

We accept partial payments through the grace period. It helps with roommate situations, paying online, etc. After 9am on the 6th partial payments can not be made, this includes through their resident portal. Payments must be paid in full, including the late fee, by the 15th or eviction process is started.

5 years 2 months ago #31326 by Britni Ruiz