General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 10 years ago,
Late fees - approaches to tackle slow pays with built up fees
Looking for ideas on how to handle the chronic slow payer. I'm thinking someone out there has some good ideas? Yes the lease covers late fees. No they don't pay the late fees, but do pay the rent. I'm thinking a diect discussion with the tenant is the starting place. Not sure a letter is going to do it.
Say that both a discussion and letter do not work...how have you remedied this yourself? Do you use late fees as an eviction basis or just leave them out there to be settled at lease completion. Do payment plans work on fee collection in your experience? Looking for the best practices on BP....Thank you!