Their hard earned money just evaporates before their eyes with no perceivable benefit. Paying rent gets associated with something very painful and negative. I better put it off as long as I can maybe the landlord will forget and I won’t have to pay if they don’t ask… I already paid for this two weeks ago, why do I have to pay again? I don’t see any immediate reward, why should I do this when the only person that benefits is the greedy landlord. When it comes to renting some have this mindset: When they pay for a pizza they get to eat a pizza right away. In order to change a tenant’s behaviour, you must first think like a tenant. If you don’t want to lose sleep over it best to try to change your tenant’s behaviour for the long term. Let’s face it, having tenants in arrears adds extra needless workload (text messages, calls, door knocks) to your daily routine not to mention they are stressful.
While most tenants understand this concept, however, there are still countless tenants that are new to the rental market (fresh out from home or international students new to renting), moreover with an abundance of new apartments being built constantly some tenants feel you should be grateful they have decided to rent your place, and you should be thanking them for choosing to live here. It’s like begging for money, and you’re not a beggar and shouldn’t have to beg for money right? Tenants should pay you rent if they enjoy and want to continue living at the property right? Whether you are a property manager or self-managing chasing tenants when they are in arrears isn’t a pleasant task. Perhaps the worse type are those that say “ oh I forgot, I’ll transfer you the money right away” and eventually get around to doing it next week. Some tenants proactively pay rent before the rent is even due, while others will never pay unless reminded or chased.
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