StreetsofSilver
New Contributor
I have a house that is located in a warzone. It cashflows great. It went vacant back in November, so I screened tenants. Not one applicant passed the background check. So I went with the only tenants that I found that actually have a job and had the least criminal history. Rent is due on the 5th. Rent is $700/month with a $50 late fee.
December: Tenant calls me on the 5th and tells me that he cannot pay me until the 10th. He says that he will pay the late fee. On the 10th, he hands me $700 and tells me that he will have the $50 late charge to me in 2 weeks. I tell him that I will waive the late fee just this month since it is the holidays and it is his first month.
January: Tenant calls me on the 5th and tells me that he cannot pay me until the 16th. He says that he will pay the $50 late charge.
I already sent out the first letter. (I believe that I must send 3 letters before I can evict). It just states that the rent is overdue and must be payed with the late fee.
What if the tenant just hands me the $700 and not the $50 late charge? Would you accept just the $700 or would you continue with the eviction process and not take it?
What is your system for handling late payments? Thanks
December: Tenant calls me on the 5th and tells me that he cannot pay me until the 10th. He says that he will pay the late fee. On the 10th, he hands me $700 and tells me that he will have the $50 late charge to me in 2 weeks. I tell him that I will waive the late fee just this month since it is the holidays and it is his first month.
January: Tenant calls me on the 5th and tells me that he cannot pay me until the 16th. He says that he will pay the $50 late charge.
I already sent out the first letter. (I believe that I must send 3 letters before I can evict). It just states that the rent is overdue and must be payed with the late fee.
What if the tenant just hands me the $700 and not the $50 late charge? Would you accept just the $700 or would you continue with the eviction process and not take it?
What is your system for handling late payments? Thanks
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