Monday, September 2, 2013
Neat idea to get rent on time
Rather than focus on the negative reinforcement when rent is not paid (N4), what about trying a new approach, an incentive to pay on time. Check out the below advertisement....
DISCOUNT RENT AVAILABLE: The prevailing rental rate in this area for a similar three bedroom home is $1550-1600, and the stated rent for this home will be $1550. However, we are offering a DISCOUNT of $50 off your monthly rent, and all we ask is that you pay your rent on time. In other words, if we receive your rent by mail only no later than 5:00 PM on the first day of each month, we will discount your rent by $50.
Will it work - I am not sure, but it is an interesting approach to encourage the rent to be paid in a timely fashion. Sometimes, it is easier to "catch a fly with a bit of honey, rather than vinegar."