All Tenants to Prepay Annual Rent

[Koddie Schumaker]

Anyone experience making your tenants pay their annual rent upfront? Would it be feasible to partner with a lender that can offer them a 12-month lease/loan? We have about $250k in delinquent accounts and need to find a better way forward. Our thought was if we structured it to be the same monthly payment, accounting for interest rates, then a tenant could build their credit and all the delinquency work would go to the lender. What are some positives and negatives of this model?