The chronic late payers were not happy that we were enforcing timely payment and late fees.  

Not destructive, dangerous, etc but chronically late and always someone else's fault.  

My experience: often this "offer" is made when a tenant is having difficulty coming up with rent, either short term or on a chronic basis.

I use cozy and generally very happy with it, but late fees are a weakness...or else I simply don't know how to have it automatically applied.

thanks Andrew...appreciate your time..I don't know how a realtor can average a higher than average selling price or be a faster salesman..based on skill...it seems the market would be the same for all realtors...the only exception would be some realtors that maybe under-perform due to maybe weak negotiation skills?

You should do some split testing and analyze the dollars spent to response rates and conversion rates to figure out what avenue to focus on.Also, you need to assess your strengths and weaknesses.

Adam, you cannot be lenient, it does not matter if you have 21 or 2100 units, you have to have firm rules and a system that is consistent, send a strong message and is willing to move forward with the next steps if need be, in the same respect if the tenants have been in the units for a long time and now have started slipping you have to ask yourself, if something happened to them and if this is an isolated incident or has this become or always has been a chronic issue.

If you buy the second and the first is currently foreclosing, what are you hoping to gain from putting yourself in a weak position?

One of the largest growing job markets is Logistics and Transportation, as we have seen and felt the weakness of during the pandemic. 

If it's weak tenants and not credit rated it's historically proven over a 5 to 10 year hold even in a strong location that some tenants will go dark.