Updated about 9 years ago on . Most recent reply
- Real Estate Entrepreneur
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Accept partial rent or give a 5 day pay or quit notice.
Just wanted to throw this out there to see what you guys think. Here's the deal. Today my property manager went to one of my newly acquired rentals and the tenant states "Can I pay $400 today and $500 on Friday?". Keep in mind that this is a rental I closed on 9/2/16 but because of everything else our company is doing we didn't get around to the tenant to collect September rent until today(no prorated rent at closing).
What would you have done in this situation? Take the $400 and hope the tenant pays the remaining rent of $500 on Friday or Give the tenant a 5 day pay or quit notice today and inform tenant if rent is not paid in full by Friday you will be issuing an eviction notice?
Side Bar - This is an inherited tenant.
Most Popular Reply
Well. if you really want to take the money you could accept the $400 and simultaneously give a 5-day notice to pay the balance. Tenants lie. To CYA, if the balance is not paid on Friday by x time give another 5-day notice and go to eviction court. Perhaps you could give the tenant a ONE time pass?