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Updated over 8 years ago on . Most recent reply

User Stats

160
Posts
74
Votes
Katherine S.
  • Investor
  • Grosse Pointe Shores, MI
74
Votes |
160
Posts

Pays late every single time, driving me crazy

Katherine S.
  • Investor
  • Grosse Pointe Shores, MI
Posted

We have a tenant in one of our SFH, moved in last December, and has paid late EVERY SINGLE TIME (with the exception of the first month.) He pays the $50 late fee without complaint. He asked to move his pay date from the 1st to the 15th, and we agreed, and then he was late on that (1 1/2 month's rent). We have started to file 7 day notices at the first possible moment, and he pays at the last possible moment before we file to evict.

I don't have any language in my lease agreement about habitual late payments (a mistake I am correcting now.)  Is there anything I can do about this except grit my teeth and not renew him when the lease is up?

What can I do to prevent this in the future?

Most Popular Reply

User Stats

349
Posts
418
Votes
Dave G.
  • Investor
  • Phoenix, AZ
418
Votes |
349
Posts
Dave G.
  • Investor
  • Phoenix, AZ
Replied

@Thomas S.

"Term leases are of zero value to a landlord since tenant will move when ever it suites them"

While I appreciate and try to practice a contrarian attitude with investing, I don't have any experience that would suggest I should agree with the above statement. My experience is that quality tenants do honor and abide by the terms of their lease agreement, and will pay a lease-break fee per the lease terms in the rare occasion they choose to vacate outside of the lease renewal parameters. 

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