Beeline Property Management's "Payday Plan" is an alternative rent-payment schedule that permits Owner-approved Tenants to break up his or her monthly rent payment into two equal (50/50) installments every month.  Beeline Property Management has designed this program to benefit Owners and Renters alike.

The Tenant is given the benefit of spreading the rent payment out over two weeks.  This is especially helpful for low income Renters, and those who are paid on a week-to-week basis.  Nationwide studies have shown that Renters participating in similar “payday plans” stay in their rental home longer with overall fewer evictions than non-payday plan rental properties.

For the Owner, by advertising your home as a Payday Plan Certified Home in the for-rent ads, it can help shorten vacancy times and increase the number of Applicants interested in your rental home or property.  This keeps your rental home in higher demand than non-payday plan rental homes, which helps to reduce turnovers and shorten vacant time on the market.

For Payday Plan Certified Renters, rent payments are due in two equal installments, twice per month.  The first payment is due on the first of the month and the second is due on the fifteenth.  Payday Plan Certified Renters have a stronger incentive to pay on time, more so than non-payday plan tenants, due to the plan’s stricter late fee policy and accelerated eviction schedule.  This helps us encourage troublesome or struggling Renters to continue paying rent on time.

Owners who have an approved Payday Plan agreement with their Tenant have the option of receiving their rental proceeds once or twice per month, either concurrently with each tenant payment, or in a lump sum at the end of the month.  We are happy to set it up according to your preference, just let us know.

For more information about the Payday Plan, or to find out other ways that Beeline Realty & Property Management can make your landlording experience better, CONTACT US today!