If you manage or you own a rental property, and in charged of the rent collection, there are times when you have to deal with a late rate payment. When this happens, it is important that you are consistent in your actions when dealing with the rent collection. Part of your job would be to establish policies and a system for collecting rent and share them with your tenants in writing.

Here are a few guidelines for collecting rent that could help you and keep your blood pressure at a healthy level.

1. Set a precedent the very first time that a rent is paid late. You can make tenants pay on time by setting up a schedule of discounts for on-time payments and set up a schedule of late fees for late payments. This way, your tenant will try to make the rent on time to avoid late charges.

2. Put in writing, all communications with your tenants. This helps to eliminate miscommunications and will be necessary, in case you have to end up in court. You should send out a letter to the tenant the first day after the rent is due.

3. Do not accept partial payments. If a tenant requests to pay a part of half of the amount, you may consider this, but clearly state that this is a one -time deal. Present the tenant with paperwork to sign an agreement to pay the balance in a specific date or a legal rent demand notice.

4. Give small incentives for rent paid promptly. It may seem not a good idea in a down economy, but these times are the best for rewarding your tenants who pay on time. You can buy them a pizza or movie passes and hand them to your prompt paying tenants.

5. Make the late charges and charges on returned checks reasonable. Several states have limitations on how much a landlord can charge for late fees. Make sure you are aware of the local laws. Fees for returned checks should be based on the charges made by your bank. Bear in mind that if a tenant makes good on a bounced check after the grace period, they have to pay for late fees as well.

6. Find out the state laws regarding eviction of tenants for non-payment of rent. Many states require that you serve a “Notice to Quit” to your tenant before you can appear in court. Start the eviction proceedings in court as soon as the law allows. It is vital to make your tenant aware that you intend to follow through on their failure to pay the rent. The court could either order your tenant to pay the money owed or move out of the apartment.

7. If you have a consistent late payer tenant, you might consider keeping him for reasons that if he is paying late fees every month with the monthly rental pay, he is actually giving you a percentage of an increase in rent in exchange for a few days late. You also have to weigh the consequences of keeping the property empty until such time that you find a new renter. You might give a consideration to a tenant who informs you ahead of time that his or her rent will be late. The tenant may be short of cash, and if the lateness is not more than three or four days late, then do not waste your time worrying about it.

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