tenants always late--do we renew lease or not

[David Yuhaz]

One of our rental properties is free and clear, and the tenants have been in the home approximately 3 years.  This property is being taken care of through a property management company.  This past year, the tenants have ALWAYS been late, sometimes 30 days. Legal paperwork is always filed and they ALWAYS pay.  Problem is, their lease expires Feb 1, 2016 and my wife and I are not sure if we should renew their lease or not. Any suggestions or comments would be greatly appreciated.  Thank you.

[Nicole Clemens]

I am in the same boat.  

My tenants are good tenants.  They take care very good care of the house, treat it like their own and told me that they made it their home and would like to stay for at least 3 more years, if possible.  Buttttt.....they are always late.  From 1 week to 3 weeks late.  But they pay.  And they pay their late fee.  Their lease is up at the end of the year and I told them that we'll do month to month until the summer and then we'll renew if they've improved on their payments.  I personally would have late paying tenants who are decent people, taking care of the house over the next tenant who could be potentially horrific....and I'd rather not deal with the turnover.  Just my opinion :)