Real Estate Agent · Riverside, CA · Member since 2016 · 20 posts · 2 votes
I inherited a rental from my Mother in law with a tenant that has been there for about 12 years. He pays his rent inconstantly and was behind $100 dollars. She collected rent by check sent to her address. Always late. I put him on contract with a security deposit and late fee imposed. He was late as expected on the first month so I served him with Pay or quit notice. He paid the rent due and back rent. He has not payed security deposit yet. He said he will pay Security at end of month and pay regular rent which is due on first, on the 11th. I told him that a $50 late fee will be imposed as well. He acknowledged this. He and the rental are registered with COZY so he will pay on line. My question on this forum is, How many times do I allow him to pay late, even though he pays the late fee? I'd rather get paid on time instead of an extra fee! What do I do if he doesn't do as he sez?
@Joe Lujan I see both sides. I also have tenants who consistently pay late every month AND always pay the $50 dollar fee. It is actually astonishing... they will be 1-2 days late and pay the fee without hesitation. Anyways, for me... they are good tenants that just cant seem to get it together by the 10th. It's not worth evicting them and being without rent for 1-3 months. They always text or call letting me know its going to be late and they are good tenants otherwise.
I suppose every tenant is different but in this case I let them pay late, collect the late fee and move on. If they fall far behind I will serve the notice to quit.
@Joe Lujan I see both sides. I also have tenants who consistently pay late every month AND always pay the $50 dollar fee. It is actually astonishing... they will be 1-2 days late and pay the fee without hesitation. Anyways, for me... they are good tenants that just cant seem to get it together by the 10th. It's not worth evicting them and being without rent for 1-3 months. They always text or call letting me know its going to be late and they are good tenants otherwise.
I suppose every tenant is different but in this case I let them pay late, collect the late fee and move on. If they fall far behind I will serve the notice to quit.
I understand it is frustrating not getting paid on time. When the lease is up, raise the late fee to $100. They will likely pay it. If they have been there 12 years they don't like change so they probably won't move. They are comfortable. Have you checked if you are charging the correct amount of rent?
@Aaron Flake, He is renting a room in a 4 bdrm House. I know We could get more, but my Mother in law is happy with the current amount. If she is happy with the extra $50 for the late fee, so am I LOL
You are happy with leaving money on the table? What is the downside to charging more? A $50 increase is doubtful to make him leave. Even if he does, that gives you the opportunity to get a new tenant in the unit at market rent.