Tenant ALWAYS late
My tenants are always late. As in they literally have never paid rent on time. They moved in mid-June and paid June (prorated) and July rent, last month's rent, 1 month security. Rent is due on the 1st and late on the 5th.
On August 4th they sent me an email saying they would put the check in the mail the next day. I explained that I had to physically have the rent in my hand by the EOD on the 4th or it's late, but I'd let it slide this one time. The check came a few days later. The next month (September) I received payment on the 4th (just within the grace period...). October was a real issue. The story I got was that there was a problem with work's direct deposit yada yada so I ended up not getting payment until the 19th. I explained that this absolutely could never happen again, I feel like I've been very patient and understanding but from now on rent has to be received on time. (They did include the late fee that time). Also with the October situation they told me numerous times that a check would be mailed the next day (when it clearly wasn't) so now I have about zero faith when they tell me a check has been or will be mailed.
Now this month has rolled around and it's now the 5th, no payment. I reached out and they said a check would be mailed on Friday.
I talked to several previous landlords and all of them said that these people were good tenants. I do think I'll get paid, but It seems like every month will be a story. I just don't have the time for it.
I have sent several email explaining very matter-of-factly that rent is due on the 1st and the late fee will be enforced if not physically in my hands by the end of the day on the 4th. I've asked if there are any questions or confusion. I don't know what else I can do.
I'm personally in a situation where if something happened with my work direct deposit I'd still be able to make my mortgage payment no questions asked. It really scares me that missing 1 payment would make someone unable to pay their rent. These people have good income, I just think they live beyond their means (fancy cars, fancy toys). I want to sit them down and give them a lecture about money management (the CPA part of me) but I know that's not my place. Plus I should charge my billing rate for that :)
Do I threaten a notice to quit? Do I ride out the 7 more months of getting paid 5-15 days late and then not renew?
After they were so late in October I told them that it would never happen again. I didn't specify the consequences, but here we are again with no payment.