Dealing with delinquent Tenants

[Luke Jackson]

Right now I'm managing about 85 units and am trying to get more of a "company policy" in place so that I can streamline my business.  If the tenant is not paying rent, when do you guys send out Notice of Default letters stating they have 30 days to vacate? What actions do you take to for tenants who are continually late and don't care about paying late fees?

Thanks,

Luke Jackson 

[Account Closed]

Hey Luke! I send notices on the 2nd each month, as I have a strict policy that rent is due on the 1st (unless the 1st falls on a weekend or a holiday, then it's due the following business day). I then file on them ten days later if the payment has not been received. If a tenant is consistently late, but doesn't mind paying the late fees, I certainly don't mind, as I collect the full late fee each month plus the full rental amount. As long as they keep paying before you file/before the court date, there's not much you can do, but at least they're paying!