Rental Rebates

[lylefeucht]

I`m considering giving a rental rebate on a condo. How would I actually implement it i.e. exchange the money etc. Should I actually give money back per month, give credits, that type of thing? Of course, the rebate would only come with timely payment of rent and generally performing as a good tenant.
Any ideas would be greatly appreciated.
Cheers,
Lyle

 

[Murray_Zelinski]

Hi Lyle

I`ve used a $500 rebate, that is available towards the last month of the lease. It is dependent upon having ontime rent through the course of of the previous 11months. It has worked on some of our units. hope this helps. Take care.

Murray

 

[invst4profit]

If you are attempting to correct a tenants bad habits, late payments, it is best to inform them that you are considering doing it first. Then give them 6 months to prove themselves before beginning.
Another late and they will have to go another 6 months before you reinstate the kickback.

A monthly system is best as tenants tend to lose interest if it is not regular enough.