Payment dates for rental?

In real estate rentals, the monthly rent is the same for February as it is for March. My advice (and I am not an attorney, but I have been a landlord for nearly 20-years, including renting rooms). Do not rent month-to-month. I make all my tenants enter into a six-month lease at the rental rate I want. This gives me the ability to not renew if they are causing issues with the other tenants. Assuming they don't, I offer a new long-term lease (1, 2 or 3 years). A three-year lease is at the same rate as the 6-month and a 2-year lease is 5% more per month and a 1-year is 10% higher. This gives them an incentive to stay longer which reduces turnovers. I the new lease starts on anything other than the1st day of the month, I take the monthly rent, divide it by the number of days in the month times the actual number of days they will be there. This is collected up-front, and all future payments are due on the first of each month. Check your state and local rental laws to make sure your lease does not violate them.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300