Comments on: “I Can’t Pay The Rent” – A Landlords Take on What to Do

By: Suzie | Roof Repairs

Suzie | Roof Repairs — Mon, 16 Nov 2009 05:19:50 +0000

Some really great points made there and I agree one can’t let them get behind, even a month is too much, but sometimes unexpected things do come up that are beyond anyones control,and this is when one has to speak up and come up with a plan as to pay that back asap.

By: James Miller

James Miller — Tue, 27 Jan 2009 21:54:55 +0000

Great Post. I think a lot of Landlords share in these frustrations, and having a list of rules to go by is crucial. James James Miller’s last blog post: There are only three ways to buy Real Estate

By: Bridget Magnus

Bridget Magnus — Sun, 25 Jan 2009 19:44:57 +0000

Well, your late fees and whatnot should be outlined in your lease (and your lease should absolutely have a "automatically extends on a month-to-month basis after the ending date unless notice to vacate given" clause! But you knew that, right?). When I was in property management, I was responsible for collecting the rent on 200 households. It was inevitable that somebody was going to be late every month. Rent was due on the 1st and late after the 3rd. We tried to minimize late rent by making sure we touched base on the 3rd with folks who hadn't paid yet. If it's in the mail-slot in the morning, no late fees, we get our money and the resident thinks we're great for reminding them instead of charging them extra. I absolutely agree that communication is key. Come in and tell me when I can expect a check! I also agree that within the lease and your state laws, don't let people get more than 1 month behind or they will never catch up. For that matter, once late fees are over $100 they never catch up, so cap those somewhere. Think about it, they don't have $x but you think there is any way they will have $2x next month or $x + #100 in 2 weeks? Get real! Another thing I used to do when the sad story is "I lost my job." Granted this was the 90s. I used to go into my Rolodex and give them contact info for 2 temp agencies. I figured if they couldn't do anything with that, they didn't want to work very much. Of course, in addition to making it more likely they could pay the rent, it gave the impression that I really cared. Come to think of it, I don't think I ever had to evict somebody after sending them to the temp agencies. Bridget Magnus’s last blog post: But Zillow Said!

By: BB

BB — Sun, 25 Jan 2009 17:55:30 +0000

Yeah I think generally it is not good to let tenants get more than 1 month behind rent. And I’ve never thought of the 10% late charge rule, it’s a good rule, should add it on every month they’re late.

By: Nolan Feintuch

Nolan Feintuch — Sun, 25 Jan 2009 13:05:50 +0000

I have head a lot of excuses of why my tenants can’t pay the rent. I try not to let them get one month behind. I really dont listen to the excuses anymore. I do implement a 10% late fee and make them pay that regardless of excuse. I have a tenant who is always late but she pays by the end of the month with the late fee so I am making 10% more than I planned. Sometimes it is like being in high school listening to all the excuses.