incentive for early payments during pandemic
I currently have a SF home and about 60 days away from completing a total gut rehab within a partnership.
In this new pandemic reality, I've decided not to reduce rents. I am, however, thinking about giving early payment incentives. Something like, pay before the 1st and get a $100-$150 credit.
I'm fortunate to have (2) essential jobs that have not shut down, so I can afford the mortgage even without rent. He's been late a few times in the past 9 mos but has always paid and taken great care of the property.
I'd like some input, please. thx
Most Popular Reply
@Marcus Holloway As a landlord I wouldn't assume a tenant needs an incentive to pay their rent. To give up potentially $1200 a year in cash flow just because a tenant adheres to their lease seems excessive and will eat quite a bit into your cash flow especially for a single family.