Tenant pays late every month

[Brad Fletcher]

Hi Everyone, I'm new to the forum.  I have a tenant that has been with me since mid June.  They have not paid on time any month since they moved in.  They typically pay around the 12th to 16th although the rent is due on the 1st.  I charge a late fee of $25 on the 5th and 5 per day after that.  Any suggestions to get them to pay on time?  They pay the late fee every month which I don't personally understand.  I would hate to pay an extra 50 to 70 a month if it were me.

[James Mc Ree]

I have a tenant like this.  She tells me she will absolutely pay me the whole rent on the 1st of the month, which then passes without a payment.  She promises more payment dates which also pass, but so far has always paid by mid-to-late month.  Rent is $1,250.  I charge a pro-rated $50 late fee after the 5th of the month and again every 10 days until paid.

I often have conversations with her about the late payments, encourage her to pay her rent on time so I don't have to charge her late fees and she always agrees (and often misses).  I always thank her for her payment at the end of our conversations and she always thanks me for my flexibility.  My flexibility makes me up to 4% more revenue per month.  I like my tenant.  8-)

Jim.