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Rent--once/mo or twice a month--legal? by Anonymous on August 22, 2012 @19:34

                              
My tenant gets paid twice a month, and he is on a M2M, and wants to pay rent twice a month, may I change the terms of the rental agreement (proper notice, etc) to reflect this, AND at a higher rent?

Example: Rental of studio is $600/month (not rent controlled) every month. If the tenant wants to pay on the first and on the fifteenth of the month, may I legally charge rent of $350 on the first and $350 on the fifteenth??? This is in Cali.

Is this legal? Charge him more for my time and trouble and because the mortgage is due on the 5th but I won't get the full rent until the 15th, so I'd be fronting some of my own money? Or regardless of the reason, is it legal to do this?
[ Reply ] [ Return to forum ]

Re: Rent--once/mo or twice a month--legal? by John-PA-LL on August 22, 2012 @19:54 [ Reply ]
Let him budget his own money, and pay on the first like everyone else. Once you open up that can of worms, you will find that the t will be later that the 15th. weekends holidays, i couldn't cash my check etc, etc. Have him put the money in a cookie jar and give it all to you on the 1st.
Re: Rent--once/mo or twice a month--legal? by jp (CA) on August 22, 2012 @20:03 [ Reply ]
you can make more without even calling attention to it.

600 x 12 months = 7200
300 x 26 (52 weeks / 2 = 26) = 7800

you get paid for 13 months during the span of 12 when you collect bi-weekly rent at half the monthly cost.

enjoy!
Re: Rent--once/mo or twice a month--legal? by Jake on August 22, 2012 @20:03 [ Reply ]
You have a tenant who wants to pay in full by making two payments per month. Why are you charging this tenant an extra $100 per month for this? Because you will be "fronting" some of your own money? "Fronting" to whom? You are using a kind of logic that is illogical. Is it legal? I guess you can stick the tenant if you want to.
Re: Rent--once/mo or twice a month--legal? by Daniel (CA) on August 22, 2012 @23:05 [ Reply ]
The question was: is it legal, not should I or shouldn't I based on other reasons.

So, In CA, if you dont have rent control and you are on a MTM lease, You should be allowed to make this change. And if this effects your mortgage, then be aware that mortgage late fees are severe and can run hundreds of dollars; not just the 100 that the poster is charging...

Needs to be said: This is the LPA, not a TPA. So when a question is asked by a LL , then flaming with opinions that do not address the question is a distraction and is labeled flamming in most forums.

http://en.wikipedia.org/wiki/Flaming_(Internet)

Re: Rent--once/mo or twice a month--legal? by Kathy (CA) on August 22, 2012 @23:39 [ Reply ]
Be aware that if you change the term by changing when his rent is due in this way then a judge is likely to view that as his term rather than M2M and he would only have to give you
1/2 a month notice when he plans to move.

Does the day he gets paid move around or is it on a fixed date? If it is on a two-week schedule, he is probably still going to have issues with getting you the rent on the 15th. Tenants like to push for the date after the 15th instead of planning ahead when their check falls on say the 7th this time around.

Also be careful that you don't fall under the regulations for motels and hotels in your county by doing this. That could result in requirements that you to collect a room tax and pay it to local government for things like supporting tourism and the local chamber of commerce.
Re: Rent--once/mo or twice a month--legal? by Franklin (TN) on August 23, 2012 @09:05 [ Reply ]
I don't personally see why you would need to charge another $100 a month for this, but I don't see it being illegal as long as the tenant agrees to it. I'd imagine the tenant will see you as greedy and want to move rather than pay your 17% increase you're proposing. So be ready for that if you ask.

I agree with the other posters recommending the tenant to be a big boy and budget his own money to pay you in full on the first of the month. His lack of budgeting skills is not your problem. Though you want it to be your profit.
Re: Rent--once/mo or twice a month--legal? by OK-LL on August 23, 2012 @09:34 [ Reply ]
Glad I don't live in Cali! I have 2 tenants who would like this twice-monthly payment accomodation and I agreed for an additional $25 per payment. Split payments mean the funds are not available to me on the 1st when I need them, I have to open and update my bookkeeping twice rather than once in the month, trips to the bank, etc. I figure that's worth at least an hour of my time, and a bargain at that rate. One accepted the terms and the other figured out a way to put 1/2 her rent away on the 15th and therefore have money to pay both halves of her rent on the 1st. If you are M2M, this type of arrangement converts your rental to semi-monthly rather than monthly and all notices, etc., must conform to this term.
Re: Rent--once/mo or twice a month--legal? by Kathy (Wa) on August 23, 2012 @12:15 [ Reply ]
Why dont you just rent for $ 700.00 per month payable at $ 350.00 on the 1st and 15th ? That would not be illegal.

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