I charge $10 per day starting at 5:00PM on the first day of the month. If a renter is at work and I know that for sure I may wave the fee just that one day if he pays me the next day before 5:00PM. (so I dont seem so mean) I have also told a person that I felt was struggling that had to pay $50 in late fees that next month if they pay me on or before the first I will give them thier late fee back. It worked , next month they paid on the first. My goal isnt to get rich off late fees but, get them to understand the rent is always due on time. I wave the late fee if the bread winner is in the hospital... I drove past the police department the other day and saw one of my renters standing outside about to wash police cars dressed in orange. Cant wait to hear his excuse when the rent comes due. Good luck to all...
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