Bi-Weekly Rent Payments

[Michael K.]

Hey everybody,

         I just had a crazy thought and I was wondering if anyone has tried it.  That is, since most people get paid on a bi-weekly basis, has anyone ever tried offering rent payments being due on the same basis to a tenant for convenience?  My thoughts are that it would help them "level load" their bills over the month rather than making a big rent payment at the beginning of the month.  I know that it probably shouldn't matter if you follow the >3x rent income rule when screening tenants.  What's in it for the landlord you might ask?  Well, I was thinking that the option would cost them an additional 5% or so for the convenience and to cover extra processing and tracking effort required by the property manager.  For example, Option 1: $500/month paid on 1st or Option 2: $260 paid on 1st and 15th.  That option would add up to an extra half-months rent if they went for it!  Thoughts?

[Russell Brazil]

As a  landlord I would be all for this as then I would receive 13 months of rent in 1 year instead of 12 months. However I think my tenants would generally be against paying an extra month of rent per year.