NICE TENANT BUT ALWAYS LATE OR BEHIND RENT PAYMENT

General Landlording & Rental Properties
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NICE TENANT BUT ALWAYS LATE OR BEHIND RENT PAYMENT

Charles Ngansop
Involved In Real Estate · Rockville, MD · Member since 2012 · 40 posts · 18 votes

How would you handle a type of Tenant that keeps your property nice and clean, treats the Landlord with all deserved respect, but is always behind on Rent?

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Terrell Garren
Rental Property Investor · Concord, NC · Member since 2016 · 1k+ posts · 3k+ votes
6y

... keeps your property nice and clean, treats the Landlord with all deserved respect...

Let the late fees roll and love life.

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  • Gregory Shelton
    Flipper · piscataway, NJ · Member since 2017 · 6 posts · 1 vote
    6y

    @Charles Ngansop

    My question is are they behind or just late every month. If they're late every month but current. Is something I can live with. I have a tenant who is late paying my management company every month, but they do pay every month absolutely. He has been doing that for 4 years. I can live with that. But if they constantly playing catch-up missing payments that's another subject entirely.

    1Reply
  • Gregory Shelton
    Flipper · piscataway, NJ · Member since 2017 · 6 posts · 1 vote
    6y

    @John Morgan

    I agree with you wholeheartedly.

    0Reply
  • Charles Ngansop
    OP
    Involved In Real Estate · Rockville, MD · Member since 2012 · 40 posts · 18 votes
    6y

    Thanks, @Gregory Shelton,and @John Morgan.



    late every month for almost a year now

    0Reply
  • Sergio AltomarePro Member
    Rental Property Investor · Greater Philadelphia · Member since 2012 · 135 posts · 60 votes
    6y

    @Charles Ngansop had this once before. In the end the nice tenant came up with a reason to not be able to afford rent at all and left us in a bind. If they can't afford it then you are not helping them either. Your time chasing down rent is cutting into your profits (time is money). Cut your ties as soon as possible.

    Podcast Guest on Show #545
    0Reply
  • Brian BoydPro Member
    USA · Member since 2019 · 305 posts · 536 votes
    6y

    But they are not behind, just late. Take the money and chalk it up to being a property owner.

    1Reply
  • Kenneth Mooney
    Rental Property Investor · Augusta, GA · Member since 2016 · 348 posts · 171 votes
    6y

    @Charles Ngansop give them ONE chance to get caught up.

    There are plenty of people who will take care of your property AND pay rent on time. The question is how much do you trust yourself or your management company to find those people?

    0Reply
  • Martin NealPro Member
    Rental Property Investor · Chicago, IL · Member since 2017 · 293 posts · 383 votes
    6y

    @Charles Ngansop Being fiscally responsible isn’t taught to everyone. People are going to be late from time to time. As long as they don’t get too far behind and always communicate, stick with them. Be sure to examine screening practices, their finances, etc. and ask yourself what you might have missed that could have warned you that their not timely with payments. Don’t repeat it next time.

    1Reply
  • Shadow Grey
    Member since 2019 · 5 posts · 1 vote
    6y

    @Marcello I.what program

    do you use?

    0Reply
  • Marcello I.
    Rental Property Investor · Long Island, NY · Member since 2019 · 20 posts · 13 votes
    6y

    @Shadow Grey I’ve been using Cozy.  The transfer time from Cozy to your checking can be a little lengthy but there is an option to expedite it for fee.

    0Reply
  • Shadow Grey
    Member since 2019 · 5 posts · 1 vote
    6y

    thank you!

    0Reply
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