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Updated about 1 year ago,
Paul SandhuPoster#4 Short-Term & Vacation Rental Discussions Contributor
- Investor
- The worst town to live in, KS
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Late fee for late rent payment?
One of my bigger houses has 6 real beds and 2 sofa beds. The weekly rent is $1500. There are 7 guys in there working day or night shift. It comes out to $215 a person. Yesterday was rent day. 4 guys paid me the rent for 6 of the people. They told me the 7th person was at a bar, I never got his rent payment yesterday. So today I have to go back to that house when he gets off work and get his $215.
I feel like a late fee is appropriate, since the other 6 people managed to pay me on the rent day. What do you think the fee should be?