General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Late fees during the pandemic
We are now 3-4 months into the COVID-19 crisis. Thankfully, all our tenants continue to pay rent. A few have been late. One in particular, has been provided an extended grace period at least 3 times during the past 6 months. By this I mean zero late fees applied. Last month they were 12 days late and I told them next month we need rent on-time, in the window of the normal 5-day grace period, or they would be charged a late fee. This month, it is looking like they will not be compliant paying on-time. Last I heard, both income earner tenants were still employed. (one is a trucker and the other works for the county) I am charging them the $50 late. Am I being too aggressive or insensitive?