First time landlord made a big mistake.

[Nahal Beckam]

Ok. I was preparing online lease agreement for my first tenant, and made a mistake. I meant to set a small late fee to be charged per day, but instead it was set the small late fee to be charged per month if they dont pay the rent on time. We signed the agreement and I figured my mistake a few days later. Now I am worried that they may not pay on time because of this cheesy mistake. The tenant is a good one  with a very high credit score, but I feel I should have set my boundaries properly. Please let me know your recommendations how I might be able to partially fix it. thanks

[Ned J.]

Relax.....if this is the biggest mistake you have made, you are doing fine...

If its really freaking you out, talk to the tenant and let them know there was a small error on the lease and either amend it with a new section they sign, or make a new lease with the correction. If they are good reasonable tenants they will not make it a big deal....if they make it a big deal, and dig in their heels, then you know what the future holds and you live with the mistake.