Property manager gripes - not aggressive with late rents.

[Adam Craig]

I have 21 single family homes being rented and managed by one of the larger management companies in my area. Rents range from 1100-1400 so most of my tenants are solid and pay on time.

Last month I checked my statement and there is a total of about $4500 in late rent or water bills spread across 4 properties. My property manager tends to let them slide and usually they do catch up - we haven't needed to evict anyone in 3 years.

Does it make sense to be lenient on late rent or should they be sending vacate notices right away? How aggressive or lenient are your property managers? 

I remember back when I was renting the management company would post a vacate notice if you were 5 days late no messing around. I feel like it sends a strong message that rent is due when its due.

Which tactic is best?