I have a tenant that is late on May rent, it was due on the 1st.  

If not, the lease we use at my firm (McCaw Property Management) is built to comply with the Texas Property Code and includes key protections like clear late fees, pet rules, tenant obligations for maintenance, and more.✅ Tenant Application: Use one with built-in fraud detection.

It turned out he did not actually have his license and will not return our calls or requests for information.

I've largely told investors to stay away - too make investors normalizes and hurts any potential returns there. 

Syndicators do not collude with each other to keep returns to investors down.

Or even interesting to think about the ability to charge late fees. 

Hey BP community,I’ve been noticing some interesting trends lately in my local market, buyers seem more cautious, especially with rates still elevated, but I’m also seeing solid demand in the sub-$500K range for move-in-ready homes.

You have to run the numbers and compare what is the cost of the money vs what is the return on that borrowed money.

Go check returns from late 2022 vs RE, not to say this will also be the trend but since you are asking for it.

We charge $50 when it is late and $10/day.