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Updated almost 5 years ago on . Most recent reply

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Incentives and Consequences for Tenants

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Considering the supreme court is allowing the eviction moratorium to remain in place, what incentives can you offer tenants to ensure they pay their rent month-after-month?

Furthermore, what consequences do you have in place in case of non-payment?

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Jaron Walling
#5 Questions About BiggerPockets & Official Site Announcements Contributor
  • Rental Property Investor
  • Indianapolis, IN
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Jaron Walling
#5 Questions About BiggerPockets & Official Site Announcements Contributor
  • Rental Property Investor
  • Indianapolis, IN
Replied

@Christopher Ballesteros THis is a vague question you're asking but tenants don't get incentives. They get a safe place to live and raise a family if they have children. They get maintenance and repairs completed in a timely fashion. If they need help moving stuff or need a truck I lend a hand because I have one. 

Any consequences of non-payment come from the lease agreement they signed to move in. For my lease a non-payment late fee of $20 is charged everyday, after 5 days late. If an eviction is filed, the only way for the tenant to stop it is to pay the rent, late fee, and any court filing fee.

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