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Do You Take Partial Payments?

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  • Do You Take Partial Payments?

    Related to this thread. Do you take partial payments from tenants who are behind on the rent?
    11
    Yes
    36.36%
    4
    No
    63.64%
    7
    Amy Campbell
    Editor
    Inside Self-Storage
    amy.campbell@informa.com

    @AmyCampbell_ISS
    480.281.6091

  • #2
    Now I ask if I want to? No, so I'm weaning my tenants off of this destructive practice.
    Why are I-phone chargers not called 'apple juice'???

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    • #3
      We will take a partial payment if you are only one month behind. A lot of people take advantage of this and never make it to the lien process. Of course if they are in lien (More than 2 months behind) we do not take partial payments. Also, if they continue to pay late every month, we will institute rental rate increases every 4-6 months, citing frequent delinquency as the reason. This cuts down on that and most of the time, gets them to pay up and move-out.

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      • #4
        What do you do if a delinquent tenant puts a partial payment/money order thru your payment slot on the day you're closed?

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        • #5
          Originally posted by JCameron View Post
          What do you do if a delinquent tenant puts a partial payment/money order thru your payment slot on the day you're closed?
          If it's a personal check, return it to the tenant saying you don't accept checks when they're delinquent. If it's a money order, well, that's money in hand so I'd take it, but print out a reminder that even with a partial payment it doesn't stop the auction process. Call them as well so they absolutely understand.
          Why are I-phone chargers not called 'apple juice'???

          Comment


          • #6
            Originally posted by KrisinNC View Post

            If it's a personal check, return it to the tenant saying you don't accept checks when they're delinquent. If it's a money order, well, that's money in hand so I'd take it, but print out a reminder that even with a partial payment it doesn't stop the auction process. Call them as well so they absolutely understand.
            Yes, that's what I do with money orders.. money in hand is right..

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            • #7
              Not anymore I don't. I'm not taking partial payments unless it's a unit on the auction list and we've arranged a move-out settlement. Which rarely happens. Other than that no.

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