Rent Payments on Holiday Weekends

[Kristin Caras]

This is our first month of collecting rent on our first rental property. Rent is due on the 1st of the month, which on this month fell on a Sunday (9/1), then followed by Labor Day (9/2).

I called our property manager on 9/2 and he said he wasn’t expecting payments on time being that it is a holiday week and wasn’t sure if rent payments had come in yet.

Being that it is our first month with inherited tenants I want to make sure things go smoothly and we are enforcing our lease, but I do understand that banks are closed these days.

If the rent has not yet been paid and they come in today, Tuesday, 9/3, would you consider that late? In general, do you consider it late if the 1st of a month is a Sunday and the payments come in on the 2nd (Monday)? I don’t want to be unreasonable but I just want to make sure we are doing the right thing on our first go around. Thanks!

[Luke Carl]

@Theresa Harris is right on. Most of my stuff is low income and they all take advantage of the grace period in the lease which in my case is the 5th. With low income I know if they don’t pay by the 5th I’ve got a problem because they can’t afford the late fee. The $1500-2000 tenants on the other hand pay early every month.

Why pay your PM if you’re going to do work? Either let them do it or do it yourself. You’re micro managing your manager. Stop that.