Leasing Forms and Addendums

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Date:             ______________________________

Resident:       ______________________________

Address:       ______________________________




Dear ______________________________:


             Good News! This letter is to inform you of a new program we have begun, which gives you, the resident, the option of changing your rent payment plan.  We have discovered from a top management consultant that many residents prefer to  pay rent other than the "old-fashioned" once a month method.

             Since most residents are paid every two weeks, some residents like the convenience of paying rent biweekly at the same time they receive their paycheck. Therefore the name - PayDay Payment Plan.  In this way, you can budget your money better by making smaller rent payments every two weeks, instead of one big monthly payment due on the first.

             This letter is sent to give you the option opportunity to pay your rent in smaller biweekly payments.  If you select this payday payment plan option , your rent payment would be due the same day every other week, in your case every other _______________.  Having payments due on ________________, gives you time to receive your paycheck on ______________ and mail, deliver or deposit the required rent to us by the _______________ due date, before any additional  late charges would be due.  Your rent would be in equal payment amounts.  For the convenience and privilege of paying biweekly instead of once a month, the amount of each biweekly PayDay payment would be $_________, which includes $_______ more every two weeks than you would pay if you were paying the once a month method.

             The PayDay or biweekly payment plan is an option most landlords do not offer because of the extra administrative work.  However, since many residents now find it more convenient to make smaller biweekly payments, we are glad to offer you the option.  Please contact us within the next three days if you prefer to pay biweekly using the PayDay plan.  Our phone number is ____________________.




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