All Forum Posts by: Cherilyn Williams

Quote from @Mark Cruse:

I think you are going too rouge too fast over something that has not materialized into anything major. Just dont let things get too far and escalate from this point, but you dont want to risk coming off as petty and annoying. If I get my rent by the 5th every month and they are very strong tenants who take care of my place, it´s utopian. There are so many things that will come up on this journey and to be all up in their mix over one day late, or elaborating over their personal issues can snowball into many issues down the line. What makes this work most efficiently is if the two parties mutually respect each other and are on the same page. If they really like and respect you and enjoy renting from you, it dramatically drives your business in a successful direction. Hovering over them at this juncture, over something this insignificant could just make them uneasy and resentful. The goal is to get great tenants who treat the place like their own for as long as possible. If your tenants start leaving at the end of every leasing cycle it will cost you dearly. Believe me, you will encounter so so much more and you will have to know how to balance it all and keep things moving. Trust when I say it gets much deeper than a day late. Dont sweat the personal business or stories either; they all have something. Dont be too passive because some will take advantage but dont be too intrusive either. As a newbie you seem to be doing very well and appear to have done your research. Congratz; I wish you the best. 

Thank you for replying.  I just received a text today on the 5th that they will pay me next Friday on the 12th.  I will charge my late fee, and my additional fees for each day they are late.  I will give them a chance until next Friday, if they don't pay by then, I am sending a notice to pay up or evict.

When managing one of my mother’s properties, I went though sheer hell with one of her tenants to get her evicted for nonpayment of rent, while also dealing with my mom’s failing health with dementia.  Going through that experience was the worse, and I told myself I would never have that happen to me when I started investing,   I guess that is what is causing me to be a stickler to the rules.  Plus, I verbally told them before signing the lease, that automatic payment withdrawals are mandatory on the 1st of each month in order to rent my home, and this is included in the lease.  I see he has disconnected his bank account from the app entirely for this month. I can understand that maybe they don’t have the funds in their account by the first, but just communicate that, I guess.  I am just trying to navigate when am I being too lenient, to a point of being taken advantage of and when I am being too strict to a point of running a tenant off.  I really appreciate you sharing your insight.  I agree with everything you are saying, and I don’t want to be that type of landlord because my personality isn’t really like that. Just trying to protect myself and not lose money on something I worked so hard to obtain.  Have a wonderful 4th!

Wow!  You have a really relaxed and great attitude.  I really like how creative you are in dealing with late payments, and using that to enjoy and enhance your relationship with your wife.

Since I am doing this alone, I can’t afford to be so lenient or it could crush me.  But if I am able to grow my portfolio like yours, maybe I could become more relaxed too if a couple of tenants do not pay on time.  Thanks for sharing a fun and interesting perspective.

Thanks for your insight.  I feel like I will be doing exactly this, unfortunately.  They are ignoring my correspondence which is not like them at all.  I really cannot stand lack of communication or lack of acknowledgement.  If there is a problem, just communicate for heavens sake!  Thank you.

Alecia -

I will have to look into this.  Thanks for the tip!  I am glad I am not alone in my feelings.   I thought I had every “T”crossed & “I” dotted with these tenants.. Everytime I hear a text alert, or my telephone ring, I am hoping it is them to give me some sort of explanation.  lol. Crazy.  I know it will get better.

Thank you for calming my fears. I always go into panic mode after the 1st if rent isn’t paid, especially now that it has been 3 days.  I’ll be ok. 😅

Thank you. You are correct.  I thought the automatic payments would guarantee on time payment of rent.  But not if they disconnect their account, I guess.  I am also glad that I do have reserves to cover the mortgage, but I’ve been saving that money to buy more investments properties, but you have to do what you have to do in these circumstances.  

I was a property manager for my mother’s investment properties before she passed with dementia, and most of her tenants paid on time, except for one I had to evict.  I thought if I screened well like I did her properties, I would be ok.  But like you say, the class of the property makes a difference as well.  Her on time tenants were in A/B  class.  Her eviction tenant was D class.  My property is a C.  Thank you for your feedback!

Thank you for your feedback!  This is exactly what I plan to do.  It bugs me because I wasn’t going to rent to them initially because of the girlfriend’s low credit score, but he has a good job and they did own a home a few years back.  I tried to give them a chance.

I just bought my first investment property, a SFH in January. My tenants moved in March 6, 2024. I require that my tenants sign up for automatic rent payment through Rentredi in order to lease from me. It is stated in the lease that rent is due on the 1st and they must agree to automatic payment withdrawals. The next month in April, I saw that the boyfriend disconnected his bank account from the automatic payments from the Rentredi app (He is the primary he has a 700 credit score, girlfriend has a high 500's)

The rent was not paid on April 1st due date. I contacted him and his girlfriend on the 2nd and told them rent is late and it was not automatically deducted from their account per lease agreement.  They stated they were having relationship issues.  I told them they have to turn in the rent that day and if they don’t pay by the grace period of the 5th, there will be a $50 late fee and $5 for each day late.   I received payment later that evening, which was a relief, but definitely rubbed me the wrong way.

May & June paid on time by automatic payment withdrawal.  GREAT!

Here it is July 3rd no payment of rent again on 1st,, and his account once again is disconnected from the app.  I sent out a text to both, no response.  However, whenever any issue came up anbout the home, I addressed it immediately.  Any suggestions on how to move forward?  I thought my tenant screening was air tight, but apparently not.  Beyond frustrated…