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 almost 7 years ago,
Late Rent vs Changing Rent Due Date
Hello - I recently inherited a triple-net shopping center with 6 tenants a few months ago. I have been spending a lot of time getting to know the tenants, the leases, etc. Anyways, one of my long term tenants (been in the center 11 years) paid his rent late this month. When I discussed it with him, he mentioned that he has a lot of bills coming out on the first, and that later in the month is better for him.
I spoke to my attorney about writing an addendum to the lease to change the rent due date to the 15th instead of the 1st, and I am considering giving my tenant the option of paying for the attorney to draft the addendum. My question is: even though it doesn't really make a big difference to me whether I receive the rent on the 1st or the 15th (as long as I actually get it), would you recommend for or against changing the lease agreement to accommodate a tenant in this situation?
Thanks!!