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Updated about 6 years ago on . Most recent reply

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88
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James Edwards
  • Lake Oswego, OR
11
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88
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Late Rent Question on Process

James Edwards
  • Lake Oswego, OR
Posted

How does everyone handle late rent, appx twice what the late day is considered?

Renter has been overall good and keeps the house up, but has been rather needy at times. 

Tenant agreement spells out a late fee penalty. 

Would a simple text to see about rent be good? While I believe following the agreement is good,  I'd really hate to get into the late fee aspect because it can start getting tit for tat. 

Thoughts?

Most Popular Reply

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13,926
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Replied

You can not be afraid to manage your investment.

The day after rent is due if not paid in full you issue a pay or quit notice. Explain to your tenants that it is simply the required process to protect your interests. Always enforce all late fees.

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