Late fees and late rent

[Beth Matherne]

Good morning everyone,

This is my first month of owning a 10 unit apartment building. It is in a downtown area but not in a horrible section. B-/C area. There is a PM responsible for collecting the rent.

In my lease rent is due on the 5th your late fees start on the 6th. On the 10th the eviction process starts if not paid.

We had a lady pay 70% of her rent, she has now went unresponsive to the PM. Pm said this is the second month with this behavior. So do I evict her or give her extra time since this is the first month with these rules and she has paid most of it?

I’m wanting to be firm but also not an ******* right away unless I have to be. This is our second apartment and first is a duplex, our first we’ve been insanely lucky with our tenants. Thanks in advance for your input.

[Account Closed]

This is your PM’s area and they should be handling it based on the lease.  Hold your PM’s feet to the fire. You pay them to do all this work for you.  There shouldn’t be any questions about it.  Cut and dry.  

Just run it like a business.  Notify per the law and move on. It isn’t personal just business.  

And good luck and congrats on the new 10 unit.