General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago on . Most recent reply

IS this rent Late or On Time?
This is a real situation I'm facing right now, and one I'm sure many of you have navigated excellently. What would you say and do here?
Most Popular Reply

Who cares when the tenant SENT the rent! It's the old "the check is in the mail" excuse. The rent is DUE on the day defined in the lease. DUE means in receipt of the landlord. The acceptable payment method is also contained in the lease. (Wired the rent? That won't work unless they have your routing and account number - you didn't do that, right? And, wires come with an outgoing fee paid by the sender and an incoming fee imposed by the receiver's financial institution; now your tenant is putting you in a fee payment situation?).
So... please don't thank your tenant for their rent payment. Let the tenant know that you received it on x day which will result in a late fee. Remind the tenant that rent is due to you on or before (date) and that the only acceptable payment method is defined in the lease.
Manage to the lease. Don't step in the tenant's crazy...take back your control.