Do you ever waive late fees?

[Robin Grimes]

When I started out landlording I would often waive late fees, trying to be a nice guy and thought I was helping out my tenants. After a while I discovered that this set a terrible precedent with the tenants. To the point one tenant was upset when I would not waive his late fee a third time. Now I will rarely waive a late fee. There are some occasions when I will waive late fees but only for long term, good paying tenants. How you you? Do you find yourself waiving late fees if the sob story is good enough?