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Updated over 8 years ago,
When do you start issuing notices regarding late rent?
I just want to get a general feel for when everyone is issuing their late rent notices. My rent is due on the 1st. If not paid on the 1st, there is a $50 late fee. After the 10th, there is an additional $3 per day for being late (added because I had a lovely tenant who had no motivation to pay earlier rather than later once they'd already incurred the $50 fee).
Do you give your tenants until the 5th in case it is in the mail (although I would still impose the late fee)? Or do you issue it immediately on the 2nd?
Thanks for the input.