Late fees during Covid

[Dave S.]

What are others doing about late fees for tenants during Covid? Are people waiving them? Based on background with tenant what should I do. I don’t know if the payments are late because it’s affected by covid or not but tenant took it upon himself to just pay base rent and ignore the late fees.

As background the guy has been my tenant for years. He has been late a number of times in the past but has always caught up. He normally doesn’t say anything about his plan to catch up and I have to reach out to him to do so.

Thoughts?

[Joel Atzenhoffer]

Hi @Dave S., a great question you raise about the late fees.  The company I work for gkhouses is in 8 different markets and we have made the decision to put late fees on hold during this current period.  Unfortunately, we have had to apply this across the board even if tenants have been late numerous times in the past.  As for now, our company has taken the approach to be empathic of the current situation and hopes this will pay off and we can renew our leases with the majority of our tenants.