Should I charge late fees for late rents?

[Gulliver R.]

In my regular non-mobile home park properties I charge for late rents. Do any of you mobile home park owners and operators charge for late rents or not? Thanks!

[Brian Spear]

@Gulliver R. In order to efficiently manage a MHP, owners should implement a black/white NoPay, NoStay policy. The majority of MHPs in our portfolio were purchased from Mom&Pop operators who had inefficient management systems... Allowing tenants the flexibility to pay when they so choose inevitably leads to burned out owners.