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Updated 9 months ago on . Most recent reply

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Yaakov S.
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Tenant pays rent extremely slowly

Yaakov S.
Posted

2 tenants in this duplex 1 pays on time every month the other one pays like 5 days late for 50% of rent then pays the rest even later if I evict I would have to give a 90 day notice as they have been there for a while (this is in ny) my property manager also thinks if I evict I can get 10-20% higher on this unit (this is my first property so i don't love taking on so much risk) just not sure what the correct move is here. Also charging them a 50$ late fee (if it takes them more then 7 days to pay) 

im thinking maybe I tell them they need to start paying on the first and kinda frame it like a warning? Don't want to be to "dickish" 

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John Morgan
  • Rental Property Investor
  • Grand Prairie, TX
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John Morgan
  • Rental Property Investor
  • Grand Prairie, TX
Replied

I’ve got a few tenants like this. They always end up paying within the month. Might be 3 weeks late, but it shows up eventually. lol. Maybe ramp up their late fee to $75 at lease renewal time. And tell them it’ll be enforced every time it’s not paid by the 5th. Most of my tenants are living their lives paycheck to paycheck. The simplest emergency puts them out and they’re late on rent again. lol. We all survive and I have enough $ in the bank for my mortgages to be covered.

  • John Morgan
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