All Forum Posts by: Jarrett Harris

Everyone in my book gets one freebie. You can let your tenants know this is the first and last time they get to be late without a fee. I would still serve the notice this time but maybe waive the late fee.

I give all my tenants a receipt every time they pay. Cash, check, money order, it doesn't matter. You especially need it for cash since there is no paper trail.

Yes wait for the qualified tenants. I am going through an eviction with an inherited tenant, that does not have a security deposit, right now......... NOT FUN!

I have it written in my lease that an NSF check is a $25 fee.

We have 1 child and we were able to deduct a portion of daycare expenses, but that was about it. The account also did mention about putting more into our 401K to reduce the taxable amount.

My comments:

I thought I would go to the same mortgage company we have our primary residence under. So they apprised our 4-flex..............for $60K????????? It was listed at the time for $170K and the one down the street just like it (but in better condition) was listed for $225K The next mortgage company, oh yeah it appraised out......right at the offer price of $145K

It should be clearly explained that the application fee is non refundable. That may weed some people out right there. Also you normally only get a portion of the people that contacted you to actually show up. If a lot of people do show up simply make sure you have plenty of applications on hand to give out. Then let you screening process do the work. Everyone that fills out an application may not qualify. (income verification, eviction record, past landlord references)

The terms under which a late fee applies should already be in your lease. If your tenant(s) paid late, then you simply tell them "per your lease agreement a late fee of $___________ is due by _________" This also assumes you have not been setting the precedence of accepting late payments without penalty in the past.

@Dominick Adolfo

Thanks Dominick, I am already aware of that place. That's who I thought Brianna might use. Just wanted to see if she had another option. Also for those in the Chicago area

Coin washer company in Elmhurst, IL does coin operated speed queens also.

@Brie Schmidt

Seeing that you are in the Chicago area. Is there any place specifically you use to purchase your coin operated laundry equipment?