The only rent I giveaway is the world famous $1 Move-In. That's only because all of our competitors do it, so we kinda have to.

I suggest the merchandise giveaway, not rent. Sure it cuts down the profit margin on the items, but it makes your sales team/skills come to light when you go for the add-on sales. So when your customer goes to reach for the free merchandise giveaways, let your sales "upsell" begin. There is where you'll break even with your new rental.

If you still think giving away rent is the best option for you, I STRONGLY suggest keeping up with the delinquency calls! I inherited a store with high liens and late fees. What I did to combat this was have a person committed to going through the late pays DAILY. If you can't afford to do this with your current staff, hire an outside office worker, give them a phone and hand them the late pay list. You'll be surprised at how much money will start to come in with a simple courtesy call. You can write this expense off at year's end.

Never be afraid to let customers go...if your store is at its best, consistent marketing can bring in NEW customers.