Re: Consistently Late Rent - Landlord Forum thread 359359

Re: Consistently Late Rent by Garry on June 3, 2019 @12:07

Boy, Jason, you are one TOUGH landlord. You're willing to discard a tenant because they are willing to pay you extra each month for the privilege of being a few days late? You must be looking for the PERFECT tenant. Well, guess what? there are NO perfect tenants anywhere in this country-----and there are no perfect LLs either, including you, me, and lpadave. Have you never been late, even 1 time, in your entire life, on anything?

Life happens! How much money will you lose if you decide to get rid of this T, and find a new one? How much money did you lose a year ago to find this T? Here's my suggestion: keep this T and allow your lease to go M2M at the end of it. Since your T apparently can afford the $35 late fee each month, you could if you wanted to, increase the actual rent by $25-$35/mo, and still keep the $35 late fee in the lease? Yes, you do take a chance that the T will move out in the winter months when it would be hard to find a T. But if you hassle your T too much over the piddly little $35 late fee, they will start bring up all kinds of thing that they feel you should be taking care of, and they could even decide to break a year's lease at any time, and move, and you won't be able to stop them.

Ease up. When their family problems slowly get settled, they will go back to being on time again. Besides, according to you, they have been with you for 10 months now,(including this June), and this will only be the 3rd time they have been late,(of which they have been more than willing to pay you the late fee). As compared to the low-income T's that I deal with, I would consider your T to be an EXCELLENT T in regards to paying on time.

By the way, cursing on this forum is prohibited, so please refrain from doing so.

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Re: Consistently Late Rent by Garry on June 3, 2019 @12:18	[ Reply ]

PS, Jason----- Your title of "Consistently Late Rent" is a misnomer. To me, "consistently" would be 2/3 to 3/4 or more of the time they have been with you, as being late. I only counted 3 times in the 10 months (your numbers), so only 30% of the time.

Re: Consistently Late Rent by Jason on June 3, 2019 @18:06	[ Reply ]

Good point. Sorry for the confusion.

Re: Consistently Late Rent by Brendan on June 5, 2019 @21:58	[ Reply ]

Have you thought about an automatic rent collecting service to decrease problems collecting rent?

Re: Consistently Late Rent by Jason on June 3, 2019 @18:05	[ Reply ]

I was planning on spraying for poison myself, but since I already pay a landscaping company to cut the grass, they're going to spray for me so my ass is covered.

Re: Consistently Late Rent by Jason on June 3, 2019 @18:18	[ Reply ]

When it comes to late rent payments, my philosophy is to nip it in the bud. If I let them slide this month, then it'll be another month and another and another. There are no penalties or late charges if it's paid by the 5th of each month, because I know people may not get paid before the rent is due, etc. And to answer your question - no tenant is better than a bad tenant - I'm not saying they're bad tenants but they're just going to have to keep paying late fees. Family issues happen. People lose their jobs. The car needs hundreds of dollars of work - I get it - the first time it happened was around Christmas and their car needed hundreds of dollars to get repaired. I let them slide because it was the holidays. My philosophy is that I am in this to make money, NOT friends. And yes, kicking them out would probably leave me with about 2-3 months of no rent. As long as they keep paying their rent and late charges (if they occur), I'll keep them. I just like to nip little problems like this in the bud ASAP so that they don't think I'm a pushover or that they can take advantage of me. You do make a very strong argument for them. Thank you for taking the time in responding and providing your advice. I'm still new to this game - which is exactly why I'm on this forum. Again, thank you. -Jason

Re: Consistently Late Rent by Robert on June 11, 2019 @09:46	[ Reply ]

IMHO if you had done a background check before they moved in you probably would not even have then as tenants. IF you decide to renew increase the late fee to $75, it needs to be high enough to hurt a little. I've done this for over 20 years and your late paying tenants would have their lease ended. As someone said this is a business. In the long run you will be better finding a new qualified tenant.