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?

[Dawn Anastasi]

I recently waived a late fee. A tenant who had been with me for over a year, and who has never paid late, said that her job situation changed and if I could take $500 of the $800 rent by the due date and $300 in 5 days so I allowed it. She paid as promised and the next month she was on time and in full as usual.

I agree with holding firm on policies, but also this is a people business.

Sometimes my tenants pay late, but then the late fee is included with the rent.