I have a wholesaler that showed us a property 2 weeks ago (before lockdowns,all these C-19 erupted) Another investor beat me to the property by 10 minutes because my GC came to the showing 10 mins late.

Late payments we could forgive but the rent is needed even if they don't get us paid up for several months.

As an example, they had:- Solid work & rental history (10 years in their current rental)- More than sufficient income (I require 3x rent but they had about 7x)- No prior evictions (this is a hard rule I will never waiver on)- Positive overall credit picture (not a single late payment on any of their accounts when I ran their credit), plus credit scores for both spouses in the mid/upper 700sSo, although I can't see into the future, it just isn't likely to me that applicants like this are going to get into my property and suddenly start paying bills late (or not at all) for the first time in their lives and tank their credit or risk an eviction. 

I'm looking for advice on how to handle a tenant who is late on rent.

I sure don't want to be worrying about it in July, keeping me from water fun and bbq's 😎  I remember years ago, the post office would have lines late at night on April 15th for people rushing to get them post marked before midnight.

In late 2018 we did do-diligence on a property that we ended up closing on in January 2019.

His tenants have asked if they can pay late.

His tenants have asked if they can pay late.

Sorry for this extremely late response but I would like to thank everyone for their help and input. :) 

@Anthony Thomas - a little late to the party but I've been impressed by Jim Barringer's quality of work (Jim Barringer Roofing) and relative pricing.