How often do your rents get paid late?

[Mikel Kaubfa]

Hi there,

I'm new here in BP and seems like there are really good resources but I'll ask it anyway.

I have been a landlord for a year with a 3 units property. One of my tenants is always late on rent because he keeps forgetting. He has a good financial situation but always ends up paying with a few days delay. He asked me to send him reminders but I don't want to babysit him.

I'm wondering how many of you have similar situations where your due rents get paid late? How often does it happen and what do you do about it?

Thanks for sharing your experience

[Patricia Moore]

@Mikel Kaubfa Use a lease that allows late fees. Check your state’s laws to make sure your late fees are in compliance. On the day after the grace period expires (if you have one), post a notice to quit or pay rent on their door. Most tenants will immediately pay. If they don’t, start the eviction. You either train them to pay rent on time or they train you to accept late rent. Make a practice of collecting all late fees. Use a portal that sends tenants email reminders and collects the rents. Never collect rent in person. Tenants must learn to use the portal or go to your bank to deposit the rent or pay by Western Union. eRentPayment.com is an economical portal that is easy to use.