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In addressing late rent payments, it's crucial to act decisively. Keith Weinhold, host of the Get Rich Education podcast and a contributor for Forbes, emphasizes the importance of nipping the problem in the bud. He recommends using a specific seven-word sentence to communicate with the tenant about the overdue rent to facilitate timely payments in the future. It's essential to post the official legal notice outlining the past due rent, along with what the tenant needs to do to resolve the situation. This formal action, paired with effective communication, can help maintain consistent monthly rent payments.