I PROMISE TO PAY THE RENT

By
Real Estate Agent with Real Estate and Beyond, LLC SA535849000
http://activerain.com/droplet/4Yq4

I PROMISE TO PAY THE RENT

 

Phoenix Property ManagementHow many times do I hear this statement each month from my tenants? It is part of my job. Phoenix Property Management we deal with human beings and not machines. There will be times when tenants fail to pay rent for the following reasons

 

  • Hours get cut
  • Loss job
  • Divorce
  • Medical
  • Car repairs

 

I can keep going when it comes to reasons for not paying rent. What do I do in these cases? The first instinct is to evict them and find another tenant. However, I find out if we are able to structure a "PROMISE TO PAY" contract to get the tenant back on their feet during these times of hardship. Good people are going to face challenges in life. So, I have been able to keep tenants in their units by doing a "PROMISE TO PAY" contract with the tenant.

 

What if they do not pay as agreed upon? That is a great question. Then, the owner has the right to immediately file eviction papers because the tenant has waived their right for the owner to issue a "FIVE DAY NOTICE." It is a win-win for the owner and the tenant when they pay in full.

 

Overall, it is just another strategy to keep tenants in units who need assistance during a rough time period in their life. They do appreciate the assistance. Then, they pay rent on time once they are back on their feet. I just wanted to share one of my many strategies in Phoenix Property Management.

 

MAKE IT A GREAT DAY!

 
Posted by

Make the Call, Set the Plan, Do the Deal$!

Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities.  The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona.  You can listent to past shows, or stream on-line.

 

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Rainmaker
669,561
Mike Bjork
American Pacific Mortgage - Redondo Beach, CA

That's great, Harry!  I would assume you've done your tenant screening upfront, and they have a good history built-up with you as a tenant, so they would tend to honor the agreement (more often than not).  I like the approach.

Dec 28, 2016 09:48 AM #9
Rainmaker
1,375,132
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Harry F. D'Elia, things happen, if tenants have a good history, most landlords work with them. Communication is the key. 

Dec 28, 2016 10:44 AM #10
Rainmaker
864,040
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Harry F. D'Elia -  you are doing the right thing for people with hardships.  Give them a chance. 

Dec 28, 2016 11:25 AM #11
Rainmaker
1,714,751
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Harry F. D'Elia - I don't envy you. You have to be really good at reading people and I'm sure you have perfected that skill! Many Property Management Companies have no mercy. I really think it needs to be judged on an individual case by case study and give some leeway if the situation is necessary.

You sound like a great guy to work with when people are honest. 

Dec 28, 2016 12:30 PM #12
Rainmaker
2,437,531
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Harry. Whatever works for everyone sounds good to me. 

Dec 29, 2016 02:20 AM #13
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Mike Bjork all systems checked

Dec 29, 2016 12:34 PM #14
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Beth Atalay thanks for confirmation

Dec 29, 2016 12:35 PM #15
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Sheri Sperry - MCNE® always here to serve

Dec 29, 2016 12:35 PM #16
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Patricia Feager I am a nice guy

Dec 29, 2016 12:36 PM #17
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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James Dray have a great day

Dec 29, 2016 12:36 PM #18
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Best wishes for continued success with your property management business.

Dec 29, 2016 04:14 PM #19
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Harry

Hopefully when the economy picks up in 2017 there will be less rent collection issues.

Good luck and success.

Lou Ludwig

Dec 29, 2016 04:56 PM #20
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Roy Kelley thanks for comment

Dec 30, 2016 11:24 AM #21
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Lou Ludwig best wishes 2017

Dec 30, 2016 11:24 AM #22
Rainmaker
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Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Harry

Firstly, thanks for stopping by my blog. This is an interesting way to keep tenants in their rental and vacancies down. Is this unique to AZ for I hav not heard of this here in CA? thanks and cheers cvc

Dec 30, 2016 01:29 PM #23
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Curtis Van Carter it is a simple promise to pay contract with tenants that is in writing.

Dec 31, 2016 05:29 AM #24
Rainmaker
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Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Harry thanks for the explanation, cheers cvc

Dec 31, 2016 07:19 AM #25
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
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Curtis Van Carter here to serve

Dec 31, 2016 09:09 AM #26
Rainmaker
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Dennis Swartz
Full Circle Property Management - Columbus, OH
ABR, CRB, GRI, MBA...experience counts!

Its a good program, and we also do it, but as with many programs some people abuse the system and the program.

Jan 29, 2017 03:58 AM #27
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Dennis Swartz there will always be people that try to cheat the system until they get caught

Jan 29, 2017 05:19 AM #28
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