Should I send a notice of default?
My tenant and his wife are teachers and have 4 kids. He has good credit (>700) and she has poor credit. They have been paying on time for the past 6 months and now are requesting to make half the rent payment now along with half of the late fee, and then pay the remaining balance next month. They say that both of their vehicles broke down and the repairs totaled over $2,500. I would like to help them and don’t mind accepting half the rent this month, but I’m also wondering if I should mail them a notice of default just in case the late payments start to accumulate and become more and more delayed. Any suggestions would be greatly appreciated. Thank You.