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Re: Tenant late or bouncing checks
by AnonymousFL
on September 15, 2016 @20:30
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We have a clause in our lease that states if a NSF occurs, the next payment must be in the form of a cashier's check, money order, or cash. Also, if another NSF occurs during the lease, we will no longer accept personal checks.
If a tenant is struggling and we believe there is a chance that they will catch back up, we will work with them a few months. In other words, if they stick to a payment agreement we will forgo late fees and finance fees. Most usually turn out ok, but there have been some instances where we have had to non-renew or evict. It happens.
Out credit score cut off is 650. Interestingly enough, we have noticed that there is a big difference in responsibility of clients at 650 and those just 10 or twenty points below...which is why we settled on 650.
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