My Tenant can't pay all of the rent. Should I accept a partial payment?

Situation
My tenant has approached me with half of the rent payment and wants to make an arrangement to catch up.  Should I accept the partial payment?

Response

It's great when a tenant communicates, even if it isn't the greatest news! 

We all know that the economy is a challenge.  Many tenants are still losing jobs and hours are being cut back for others.  If you haven't experienced a problem up to now, you are very lucky.

The important thing to do is to keep open lines of communication.  The more you communicate the better the decisions you can make.

I would accept their partial payment and work out a payment plan with them.  Ask them when they will make the next payment and how much the payment will be.  It is important to be specific on both of these points so it is easier to follow up with them.  Be sure to write down and give them a copy of the payment arrangement.

Each time you accept a partial payment, serve them with a new 3-Day Notice to Pay Rent or Quit.  This reminds them that you can still take action for non-payment and it speeds up the eviction process if it becomes necessary.  Advise the tenant that you will not act on the Notice unless the next payment is missed or they have not contacted you.

If they contact you when they are late on one of the payments be glad that they are communicating.  Set up a new payment arrangement.  It is important to collect some money at each payment date.

Don't let this continue indefinitely.  At some point you should realize that they are in a home that is too expensive for them.  You may suggest that they move to a less expensive unit.  Be willing to let them out of their lease.  Remember that it is cheaper to let them out of the lease than it is to evict them.