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Updated over 7 years ago on . Most recent reply
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Pays late every single time, driving me crazy
We have a tenant in one of our SFH, moved in last December, and has paid late EVERY SINGLE TIME (with the exception of the first month.) He pays the $50 late fee without complaint. He asked to move his pay date from the 1st to the 15th, and we agreed, and then he was late on that (1 1/2 month's rent). We have started to file 7 day notices at the first possible moment, and he pays at the last possible moment before we file to evict.
I don't have any language in my lease agreement about habitual late payments (a mistake I am correcting now.) Is there anything I can do about this except grit my teeth and not renew him when the lease is up?
What can I do to prevent this in the future?
Most Popular Reply
"Term leases are of zero value to a landlord since tenant will move when ever it suites them"
While I appreciate and try to practice a contrarian attitude with investing, I don't have any experience that would suggest I should agree with the above statement. My experience is that quality tenants do honor and abide by the terms of their lease agreement, and will pay a lease-break fee per the lease terms in the rare occasion they choose to vacate outside of the lease renewal parameters.