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Updated almost 15 years ago on . Most recent reply

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Bienes Raices
  • Orlando, FL
280
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Collecting the rent in person, and the lease

Bienes Raices
  • Orlando, FL
Posted

I've decided to make the rent due by the 4th of each month and pick it up from the tenant each month at the property.

Is there a good way to word this arrangement in the lease so that the tenant can't stand me up at the appointment and having to go back, etc.?

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James Harkness
  • Real Estate Lender
  • Philadelphia, PA
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James Harkness
  • Real Estate Lender
  • Philadelphia, PA
Replied

If I were your tenant, I wouldn't be too pleased with this arrangement. Things happen, and I have an extremely busy schedule. I would not want to be tied down to having to meet you in person to pay the rent. Why not allow a check to be mailed, or some other option. It is a lot easier to drop a check in the mail than to have to set time aside out of my day to make sure I can meet with you.

Personally, I also travel a lot for work. What happens when your tenant is out of town? Do they have to pay you before they leave, or would you accept "late" rent when they return?

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