Late rent almost every month

[Sai T.]

Hello BP members 

I receive the rent but always  5-10 days late with late fee $75/-

This month I got this email from tenant “Hello i emailed you before the 1st to let you know that i wouldn’t be able to pay my rent until the 18th i am just now getting your voice message about it so I’m assuming you did not get my email .... my son was in hospital and my job did not put my sick hours thru so i have to wait until next check i will attach the late fee and than June rent will be paid on the 1st. Sorry for any inconvenience”

$75 Late fee is ok for a few days late rent. Not for 3 weeks late rent. I’m not to sure how to calc late rent for 3 weeks late tenant.

Thank you for your help 

[Cara Lonsdale]

What does your lease say?

You can't just arbitrarily change the late fee, or increase it, unless it's renewal time.  IF it IS renewal time (and you want to renew this tenant), you can adjust late fees as your state permits.

You may want to consider changing your late fee structure to a daily late fee.  I have a $25 per day late fee in all of my leases.  My tenants are rare late, and if so, rarely past a couple of days.