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Updated about 5 years ago on . Most recent reply

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11
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Pinkal Shah
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11
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Zelle Pay and Partial Rent late

Pinkal Shah
Posted

So here's the story. New tenant moves in last fall. I get first month rent on time and in full.  Then next month, I get request to pay partial rent (75%) before grace period and rest if they can pay later. Medical billing issue. I let it go. This pattern has now continued well into this month. I have figured out that he is getting paid every other Friday and he is paying me the first partial payment on the first Friday of each month, which obviously will fall within 5 business days of grace period. 

My second issue is, I have agreed to use Zelle to accept payments. My rent is $2300 and Zelle has a limit of $2000 per transaction. So tenant sends me a partial payment of $1600 in the first transaction. Rest comes the alternate friday of that month. The tenant has made full payment so far before the 31st. 

I do have late fees in the lease, but I'm just being generous not to charge them because honestly I don't want to sour the relationship. 

I am curious as to what would you do? 

Most Popular Reply

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Mike McCarthy
  • Investor
  • Philadelphia, PA
1,849
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Mike McCarthy
  • Investor
  • Philadelphia, PA
Replied

I would have no problem getting paid bi-weekly if we agreed on it, put it in writing, and ensured they caught up quickly (if behind). As long as I’m getting the rent reasonable, I’m happy to work with my tenants to make it easy for both of us.

But I’d write up an addendum and specify when rent is due and re-outline the late fees. Late fee is now the day after the bi-weekly rent. Etc.

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