Rental Agreement With Split Payment

[Stan Butler]

As the economy continues to be sluggish, I am getting more requests from tenants to make their payment in 2 monthly installments. How do you other landlord account for this schedule?? I can think of a couple of ways:

1) Agreement with 2 payments dates (say 5th and 20th) and have late fees accrue from each date.

2) Agreement with full payment due by the 20th ($50 higher), but violation of agreement would occur if 1/2 not paid by the 5th.

Anybody else run into this scenario??