[GNC] invoicing

Adrien Monteleone adrien.monteleone at lusfiber.net
Wed Oct 26 12:27:50 EDT 2022


One trick I've heard works wonders from someone who has used it:

Don't *just* charge a late fee.

Bymp your rent to *include* the (former) late fee and still list the 
late fee.

Then offer a discount (removing the original late fee) for early payment.

For example:

Current Rent $1000
Current Late Fee $50

New Rent $1050
New Late Fee $50
Discounted Rent for being early: $1000

His tenants were chasing him down in parking lots to beat the 'early' 
deadline to 'save' money and paying him the same amount he wanted to 
collect 'on time' anyway.

He never had another late tenant.

I think he set the timing at 5 days each way, early and late.

Regards,
Adrien

On 10/26/22 6:40 AM, flywire wrote:
> The process needs to be right before worrying about the accounts:
> 
>     1. If your tenant is reluctant to pay rent find a new tenant, no
>     different to any other business clients that are hard work.
>     2. Weekly tenant notices with the amount owing seems more like
>     harassment, and too much work anyway.
>     3. Rental agreements work best when they suit both parties which
>     involves communication and a bit of negotiation.
>     4. My understanding is a lease is an invoice that states the amount per
>     period and the term. Just send them a statement that is good enough for
>     legal action anyway. Ask them how frequently they want them (quarterly,
>     half-yearly, or annually), generally the older they are the less frequently
>     they want them.
>     5. If your tenants are paid fortnightly make that the rent period, due
>     after they are paid.
>     6. Ask tenants to have rent deducted from their pay or bank account
>     into your account, they'll normally agree and it makes it easier for
>     everyone.



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