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Early Rent Payment Discount

How do I Get My Tenant to Pay Rent Early?

By John Nuzzolese

Getting the rent paid before itís due date on a regular basis can be a tremendous help to the landlord in a number of ways. I enjoy a certain peace of mind knowing that my monthly expenses are covered when I receive the rent early. It also helps to be on schedule with the many financial obligations we have each month.

If you use your imagination, you can come up with plenty of ways to encourage earlier rent payments. I have been successful using the "Early Rent Discount" clause in The LPA Lease.

Since many people do not have their current tenants on The LPA Lease, the need arose to create an "Early Payment Discount Voucher" for those who would like to give the incentive to pay early to their tenants.

It can be used on a temporary basis for a span of 1 to 12 months or whatever you feel works for you and your property. It was originally suggested as a Holiday reward for good tenants. It can be for any reason you wish. Getting the rent paid early isnít a bad reason either.

The discount should be big enough so the tenant will not want to miss out on it, but not so large that it dents your income on the property. I usually discount the rent in the lease by $10.00 if the rent is 5 days early. I make more of a discount on properties I have set the rent appropriately for.

Many landlords are against giving the tenant an early payment incentive because the rent should be paid on time anyway. I can tell you from experience, the discount doesnít work all the time for every tenant. Some people will never pay early. It does work for most of my tenants who enjoy great credit ratings and also enjoy saving a few bucks each month. Over the year those discounts add up for the tenant! And thatís what I tell them. Why not give them a good reason to pay you early?


Check out The LPA's new Essential Landlord Form, the Early Payment Discount Voucher.

Essential Landlord Forms, Lease Rental Agreement, Eviction Notice, Lease Enforcement Forms




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Essential Forms
The LPA Lease | The LPA Apartment Lease | The LPA Furnished Lease | The LPA Lease - Lg Print | The LPA Lease with Purchase Option | The LPA Commercial Net Lease | Rental Agreement | Rental Agreement- Month to Month | Rental Application | Property Condition Report | Security Settlement Statement | Lease Violation Notice | Late Notice | Urgent Late Notice | Notice to Pay Rent or Quit | Eviction Notice | Rent Increase Letter | Lease Renewal Form | Notice of Lease Non-Renewal | Notice of Charges Due | Grounds Violation Notice | Furnished Lease Addendum | Execution of Daily Rental | Denial Letter and Adverse Action Notice | Notice to Comply | Pet Agreement | Security Settlement Challenge Crusher | Landlord Reference Qualifier | Lease Update / Change of Terms Notice | Notice of Unauthorized Rent Deduction | Promise to Pay | Swimming Pool Agreement | Appliance Agreement | Odor Notice | Cable TV Satellite Dish Addendum | Smoke Detector Safety Addendum


Free Forms
Lead Paint Disclosure | EPA Lead Paint Booklet | State Specific Notice Period Chart | Rental Binder | Lease Addendum | Tenant's Notice to Vacate | Notice to Renew or Vacate | Move Out Instructions Reminder Letter | Settlement Charges Guide | Move-In Information Sheet & Phone Numbers | Painting Instructions | Rent Increase Reminder | Move Out Clean Up & Debris Letters | Oil Adjustment Verification | Waterbed Addendum | Tenant Recommendation Letter | Security Deposit Refund Receipt | Key Receipt | Lease Co-signor Agreement | Work Order

Essential Forms
The LPA Lease | The LPA Apartment Lease | The LPA Furnished Lease | The LPA Lease - Lg Print | The LPA Lease with Purchase Option | The LPA Commercial Net Lease | Rental Agreement | Rental Agreement- Month to Month | Rental Application | Property Condition Report | Security Settlement Statement | Lease Violation Notice | Late Notice | Urgent Late Notice | Notice to Pay Rent or Quit | Eviction Notice | Rent Increase Letter | Lease Renewal Form | Notice of Lease Non-Renewal | Notice of Charges Due | Grounds Violation Notice | Furnished Lease Addendum | Execution of Daily Rental | Denial Letter and Adverse Action Notice | Notice to Comply | Pet Agreement | Security Settlement Challenge Crusher | Landlord Reference Qualifier | Lease Update / Change of Terms Notice | Notice of Unauthorized Rent Deduction | Promise to Pay | Swimming Pool Agreement | Appliance Agreement | Odor Notice | Cable TV Satellite Dish Addendum | Smoke Detector Safety Addendum


Free Forms
Lead Paint Disclosure | EPA Lead Paint Booklet | State Specific Notice Period Chart | Rental Binder | Lease Addendum | Tenant's Notice to Vacate | Notice to Renew or Vacate | Move Out Instructions Reminder Letter | Settlement Charges Guide | Move-In Information Sheet & Phone Numbers | Painting Instructions | Rent Increase Reminder | Move Out Clean Up & Debris Letters | Oil Adjustment Verification | Waterbed Addendum | Tenant Recommendation Letter | Security Deposit Refund Receipt | Key Receipt | Lease Co-signor Agreement | Work Order



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