Investor · Montréal, Québec · Member since 2016 · 52 posts · 17 votes
One of the tenants in my Triplex consistently pays rent late each month, the latest date paid so far has been the 11th of the month, the tenant adds to the fire by being impossible to reach, doesn't respond to calls or texts. Im located in Quebec, Canada where local laws heavily protect the tenant, basically can't do anything until the 21st of the month before taking any legal action and even at that the process is dauntingly long. The property is in a decent working class neighbourhood surrounded by businesses and generally has good renters, unfortunately I inherited this tenant on the purchase.. Anyone else see this kind of activity? Any feedback is highly appreciated :)
@April Adams So you're saying that sometimes its better to take a late paying tenant over no rent at all? I can see the pros and cons of the situation for sure... thanks for the feedback and sorry to hear about the situation
I have a tenant who I have had for 6 months into a 2 year lease. He has never paid on time. I have to send messages every month about him being late. He always pays around the 15th of the month (2 weeks late) with a cashiers check and a 5% penalty. I would prefer to have him pay on time but I'm living with his lateness. In reality I end up with more revenue this way, it just drives me crazy.
I have a tenant who I have had for 6 months into a 2 year lease. He has never paid on time. I have to send messages every month about him being late. He always pays around the 15th of the month (2 weeks late) with a cashiers check and a 5% penalty. I would prefer to have him pay on time but I'm living with his lateness. In reality I end up with more revenue this way, it just drives me crazy.
There is actually not much worse, aside from damage, than a tenant paying late. Tenants have very few responsibilities the most important of which is paying on time...
Not much worse than a tenant paying late? You were lucky not to have one that doesn't pay at all and doesn't want to leave. It probably depends on your local laws and regulations, but in Québec, we are not allowed late fees and to evict a tenant it takes some paper work and often a delay of one or two months (yes that means a big loss of time and money).
I had a tenant paying late and it worked quite well for the 3 years she was here. What is important is not to accumulate debt from one month to another, because they will never be able to catch up.
If the 1st of the month is a Monday and the tenant is getting paid every Thursdays, then you might expect getting paid on Thursday, not a big deal for me. The only thing I ask is to be warned on the 1st, and to be told exactly when they will pay. If they hold their word, they may continue like that. However, if they don't pay the day they promised, I will become very strict.
After a few months, you know if you can trust your tenant or not.
Have a perfect tenant that pays on the 1st of the month every months is preferable, butit is not always the case.
It is difficult to understand how a professional can operate their business with a tenant payment policy consisting of "pay whenever you choose".
What is the purpose of having a lease if you do not intend to inforce it. Seems like a waste of time and paper and creates undue stress for both landlord and tenant.