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When your tenant is late with rent, address the issue promptly. Use a specific seven-word sentence to encourage timely payments. Keith Weinhold, host of the Get Rich Education podcast and Forbes writer, stresses the importance of having no tolerance for late payments. Legally, you should provide your tenant with the appropriate form showing the past-due rent and the necessary steps to rectify it. Additionally, utilize informal communication with the tenant to address the legal document and reinforce the importance of on-time payments.