How do YOU deal with late tenants?

[Brandon Turner]

Just wondering the process that others do.

Do you charge every time, do you give leniency?

Do you ever waive fees?

[Aly W.]

I think the only time we've waived the late fee is when there's been a bank issue or what seems a legitimate reason for being only a day or two late. We go over the lease with our tenants before they move in and tell them we enforce late fees. They are never surprised or say they won't pay them if/when they're late. We charge every time, otherwise. Tenants have let us know if they'll be late, and they acknowledge the late fees will be paid with the rent.

If you give leniency more than once, you're basically training them that the rent can be late, while they pay other bills first. And they'll let it go later and later.