General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago, 04/14/2023
Tenants paid full rent late, but have not paid late fee
For the second month in row, my tenants have paid rent 3+ days late. My lease states the following:
Shall tenant(s) accounts not be paid in full by 4:00 pm on the 2nd day of the month, a late charge of twenty five dollars ($25.00) will be added to the outstanding balance to cover costs of collection, and if payment is not received thereafter an additional late charge of ten dollars ($10.00) per day will be added to the unpaid balance.
They have since paid the monthly rent value, but not the late fee totaling $45. Now they are non-responsive to calls and texts. Should I continue to tack on the $10 late fees since there is still an outstanding balance? How long do I give them before taking legal action?
Appreciate any input!