Rent payment method( half-half vs. full)

[Alexander Churchill]

Good morning BP, I have just fully rented out my first Property. Quick question, just wanted to get some opinions on tenants making two rent payments per month(half on the 1st other on 15th) the newest tenants asked me if I would be ok with that and that they were doing that with previous landlord. I also called their previous landlord for reference just to confirm he was switching to student housing and to ask questions about the tenants and he also confirmed they were paying half and half each month. As of now I told them to plan on paying in full on the 1st. But I just wanted to get some ideas or opinions or if it really would matter one way or the other? Personal preference I guess?

[Jay Dean]

As long as you get your money what difference does it make?  It is however twice as many payments for you to receive and process.  Depending on how you receive payments and make deposits that isn't a big deal.

Most importantly, put the terms for payment in writing with specific deadlines, late fees, etc.  Hold their feet to the fire.  If they are late hit them with the late fee.

Set clear expectations up front and follow through.