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You will save your own ass doing thorough background AND credit checks AND *speaking with* people they've rented from, before. References can be fake and phony. DO YOUR HOMEWORK. There are even nationwide services you can join.
The national services help you weed out the rental hoppers. They're professionals at it. Avoiding them is golden.
Charge rent+late fee as simple rent price and discount the rent for early payment, that is, a day or more before due date you deduct what would have been the late fee. That way it is built right in. Gives them an incentive to pay on time AND they don't feel "stuck with a late fee" if they pay later. They just feel like they "missed out on" the discount.
FIND OUT WHEN THEY GET PAID- the due date should be the NEXT DAY. This way they get paid and try to get the money to you AS SOON AS IT IS IN THEIR HANDS in order to get the "discount".
Give someone something substantial as a free month or huge upgrades and they'll think you're loaded and/or expect more and more and more free bonuses and feel cheated when they don't come!!!
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