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Updated almost 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Odessa, FL
113
Votes |
145
Posts

Tenant always short on rent, MGMT company not collecting late fee

Account Closed
  • Rental Property Investor
  • Odessa, FL
Posted

So I have this property in a D neighborhood (Ybor city, Tampa) and I have a management company managing it. The tenant paid the first and second months promptly, the third was late and the forth which was supposed to be paid on 06/10/2019 was paid partially until now (missing $70). After the first month this has happened I asked the management company to start charging late fees which they said they do but they don't enforce them because they aren't being transferred to the owner balance. So I asked the management company to split the fees with me which is pretty uncommon from asking around. Now late fees are stacking up on my balance as well as the missing rent.

This month the tenant hasn't fully paid his rent nor did he pay his late fees and tomorrow he's supposed to complete another payment which I don't see him fully doing so. I feel like my management company is sloppy / too forgiving with this property. Should I go ahead and start an eviction or should I just let the income continue until I finish the lease and then not renew it ?

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1,356
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Tyler Gibson
  • Real Estate Agent
  • Orlando, FL
2,116
Votes |
1,356
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Tyler Gibson
  • Real Estate Agent
  • Orlando, FL
Replied

@Account Closed Sounds like it is time for a new management company. If they aren't going to enforce the lease agreement then what is the point of having one. Find a new management company and enforce the lease to the letter of the law. It is the only way to do business. 

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