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Updated almost 13 years ago,
Inherited Tenants Paying with SSI
I closed my first deal this month on a 4-plex that came with tenants. Two are both SSI only and the first small issue comes from them.
The lease, from previous owner, says pay on the 1st or pay a late fee, however the SSI tenants don't get benefits until the 3rd and thus cannot pay until then. One said they had a verbal agreement with the old property manager to pay on the 3rd. I spoke to her this morning and said that we will wait to collect until the 3rd and create a written lease amendment that will make her future payments due on the 3rd. I know that many on here say to be tough on tenants and train them to pay according to lease, but I think that allowing them to pay on the 3rd will be better for both parties. Am I making the right choice?