Bi-weekly rent payments

We are looking into the possibility of offering bi-weekly rent payment options for a community in an economically challenged area. Is anyone doing this now? What type of lease are you using? Anyone willing to share an example of the lease language that pertains to this?

I would highly recommend checking with your Justice of the Peace Court Office. Each Judge will view "partial payments" differently in an instance where you may have to move forward with an eviction. In Texas, the JP Courts view "partial payments" as a way of working out a payment agreement and do not often honor evictions in these cases.

As an alternative, I have always utilized a "Promise to Pay" Agreement that the Resident sets up outlining their payment agreement. This is similar to an Eviction Hold of Agreement, just not as aggressively worded.

That is my two cents! Hope it helps.

I had a client who implemented this on a portion of the portfolio two years ago with great success. Rental agreement was changed to spell out two dates for rent due and special stipulations stated that if one payment was late - the privilege of "flex pay" was immediately suspended.

Delinquents came down - evictions were non-existent, etc. On some properties where residents are living paycheck to paycheck - once they get behind due to any kind of an unexpected expense (car repair, illness); you lose them because they have to save their rent money to cover moving expenses before the eviction takes place. Late fees and eviction fees can make it impossible for a resident to ever catch up once behind. Rental was only acceptable in money order or cashier's checks - no personal checks.
Good Luck!