Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

10
Posts
6
Votes
Scott Bond
  • Folsom, CA
6
Votes |
10
Posts

NSF check and late replacement= NSF fee AND Late fee?

Scott Bond
  • Folsom, CA
Posted

When a check bounces and the replacement check doesn't arrive before the deadline, do you guys charge an NSF fee AND a late fee? 

Assuming the process of bouncing the check takes a few days, I can't imagine that there would be many folks would even have the notice from their bank in time to send another check by the 5th (our grace period extends till the end of the 5th) to prevent a late fee. Then again, if there is a chance that the check is going to bounce, it would be prudent of the tenant to send payment early to leave themselves time to resend it and prevent the late fee from being accrued as well. Any input out there?

Most Popular Reply

User Stats

1,358
Posts
1,322
Votes
Levi T.
  • Rental Property Investor
  • Tucson AZ / Nice FR
1,322
Votes |
1,358
Posts
Levi T.
  • Rental Property Investor
  • Tucson AZ / Nice FR
Replied

It bounced because they don't have the monies.. Hit them with a NSF fee and late feel, require certified funds or money orders. Also start the court process quickly if it's pass the due date. If they have not repaid the balance in full within the state's deadlines, it's check fraud for writing a bad check. In Virginia that's 30 days.

Loading replies...