Rental Property Investor · Haverhill, MA · Member since 2017 · 290 posts · 185 votes
8y
You can have rent due any day you want, just document accordingly in rental agreement. If you have multiple properties though, it’s easiest to be consistent with the day rent is due for ease of record keeping.
Rental Property Investor · Haverhill, MA · Member since 2017 · 290 posts · 185 votes
8y
You can have rent due any day you want, just document accordingly in rental agreement. If you have multiple properties though, it’s easiest to be consistent with the day rent is due for ease of record keeping.
Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
@Rousner Ermonfils I think most people are used to rent being due on the first of the month. You may need to prorate though if most tenants move in on the 1st
But some people do allow a 5-day grace period.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
8y
Why do you want to wait half way through the month before getting paid. If you someone stops paying you have already let them stay half the month for free. It will be the end of the month before you file an eviction and then you've already lost a whole month of rent.
Mine is due on the 1st, late on the 6th. I'm filing an eviction by the 15th.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
8y
If it coincides with the lease on the 1st that is best. Government payments are on the 1st so for those on SSI or similiar you get paid first. The first doesnt help for those on weekly pay checks but who wants multiple due dates.
Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
8y
@Colleen F.@Dick Stevens I purchased a 29 unit apartment community and the former owner had rent payments due throughout the month...crazy administration. 3rd party management spent the first couple of months getting all residents on the same due date.