All landlords would want their tenants to pay the rent responsibly, on time, and in full. Imagine their frustrations of not getting the payment on the agreed-upon date. It will cause stress because it will interrupt their income. They also have bills to settle, you know. If a particular tenant fails to pay on time, or at all, it can even lead to an eviction. And that costs money as well.

The best thing to do is think of ways to encourage them to settle their rent. If done right, the landlord would not have to remind them each time the due date comes. As a leasing agent, you can apply those ways when talking to potential tenants. A somewhat pre-conditioning tactic to let them know what to expect. Fortunately, you won’t have to think of them anymore. I can share them with you right here, right now.

At the beginning

The best thing you can do is emphasize the significance of paying the monthly fees for the would-be tenants. You will have plenty of opportunities to meet them and discuss essential things such as this. You can also see their reactions to the firm standards set for them. As early as the screening phase, the tenants will realize the need to make their payments on time. By the time they meet the landlord, they know what to expect.

Discounts

One thing that will motivate tenants is if landlords give out incentives for consecutive early payers. They would appreciate the gesture, even if it is a small amount. They would want to do it every month. Everyone loves a good deal.

Late fees

Most landlords impose rules on late payments, such as late fees. It is an added amount of money if the tenant fails to settle their bills on the due date. You should discuss this with tenants and make sure that they understand the consequences of paying late. They would not want extra expenses on their budget. However, you should note that not all places in Canada allow landlords to charge late fees. For instance, in Ontario and Toronto. In the province of British Columbia, landlords can ask for the additional payment, but the lease agreement should stipulate it.

Offer convenience

Landlords should think of the tenants’ comfort and convenience. One of the things a landlord can do is have different payment options. Most people use online banking nowadays. It’s easy, trouble-free, and time-saving for both parties. They won’t have to set up meetings just so the tenant can hand over the rent. The tenants will also have no excuse for late payments.

Help them remember

We all know there are no perfect tenants. Some of them may forget to make their payments. They might become too busy to take note of the date. To help them remember, landlords can send out monthly reminders to the renters. They can do it through emails to make sure they receive it.

Good relationships

Renting a property may be a business deal, but it does not have to be formal. Landlords and tenants can have a friendly relationship. They should establish mutual respect, and landlords should initiate it. They would be indebted to a property owner who takes time to get to know them and responds to their needs immediately. It is also a good thing to have open communication with them. By the time the bills are due, they prioritize paying their landlords to avoid breaking the trust.

The things I mentioned will not require much effort, so landlords and agents can easily do it. It will encourage the tenants to pay the rent on time, which will make the partnership run smoothly. The landlord would also avoid the unnecessary anxiety that late payments bring.

Now that you know you can help the landlords, let’s put it to good use, shall we? But first, let’s find you some tenants. In case you didn’t know, there is a website you can use, and it is called Padleads. Padleads will let you post your property listings and help you syndicate them to other sites online. Go ahead and sign up now.