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Updated over 3 years ago,
Late Payment But Late Fees Increase Cashflow, What Should I Do?
Single Family Rental tenant pays late consistently (5 of last 6 months) but pays and pays late fees which boost my cashflow by $75 per month. Tenant has never gone past the end of the month without paying in full but has not paid in full until the last 2-3 days of the month for the past couple of months.
What should I do? I don't mind the extra cashflow but the tenant has effectively stolen a month from me thanks to a not so great property manager.
Side note: The tenant's lease expired in February and is on month to month now so I can use 30 day notice to end things if I choose to and would only need to go through the eviction process if he refused to vacate the property.