Tenant Requests Decreased Rent

[Rosston Smith]

I have a situation I haven't dealt with yet. One of my inherited tenants who've lived in the unit for 4 years paying $550/mo just broke up with his girlfriend. I've owned the building for 6 mo and we've never had an issue regarding late rent or any other conflict. 

Today when I collected rent he asked if he could pay $450 for the next few months to help him out while he brings in new income from other sources. He offered to help out around the house wherever possible to compensate for it.

He followed this up by saying if there isn't anything I can do he is willing to try and figure it out to make ends meet. 

I wanted to know if any of you have dealt with a similar situation, and see what you think I should do. I am willing to tell him he's going to have to continue paying the current rent, but I didn't know if there was another way.

Thanks! 

[Christopher Phillips]

@Rosston Smith

In general, that's a big "no". If you had to tell the bank the same story you'd be out of luck.