Bi-Monthly Payment Arrangement
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Document Description
With some tenants, the traditional once-a-month rent payment schedule may not be the best option. For example, a bi-monthly payment system may be preferable for a tenant with irregular income or paycheck cycles. In other situations, you may request bi-monthly rent payments to protect your interests with a tenant who has had past problems with timely remittance. Use this simple form to establish the guidelines for a bi-monthly rent payment arrangement, including payment amount, due dates, and late fees.
Who: Any tenant who will be paying rent twice monthly.
What: A simple agreement that sets forth the terms of a bi-monthly rent payment plan.
When: At lease signing, or at any other juncture that a bi-monthly payment plan needs to be initiated.
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