RE: Never recieving rent on the 1st.
It is very frustrating but unfortunately - that is what a grace period is for. I too have a tenant that pays sometimes right on the 5th, so I have now come to expect that payment will be made on the 5th of every month. To avoid this in the future, unless your state law prevents it, create a shorter grace period.
Posted by
Donna , NC
on
Thursday, April 2, 2009
RE: Never recieving rent on the 1st.
I think you need to relax a bit and realize that they are not late if they pay before the 5th every single month. Stop expecting it on the 1st and realize that they are not late if they utilize the grace period.
Posted by
Barbara H, CA
on
Thursday, May 28, 2009
RE: Never recieving rent on the 1st.
What is a good grace period to give to the tenant? 5 days or 10 days
Posted by
Juan O, NY
on
Friday, May 29, 2009
RE: Never recieving rent on the 1st.
I use 5 Days. I ahve used 3 days in the past as well.
Posted by
Denise S, PA
on
Friday, May 29, 2009
RE: Never recieving rent on the 1st.
How Do we collect the rents on time the grace period is the 5th however most are paying htis after the 5th with fee then we have some that pay real late. How do we stop this? ant throughts or ideas would help so much . We have over 1000 units this is a big problem
Posted by
Tina S, OH
on
Friday, May 29, 2009
RE: Never recieving rent on the 1st.
Juan,
I personally wouldn't ever give 1o days. I would say 3-5. My next tenant will only have the joy of a 3 day grace period. I am not going to mess with 5.
Posted by
Amanda H, IA
on
Friday, May 29, 2009
RE: Never recieving rent on the 1st.
I agree with Amanda H. Use a smaller grace period. and create a plan and stick to it. Unfortunately, late payers are a part of the business. But if you do not receive payment on the due date, you can send a reminder and as soon as the grace period passes, send a late notice. NEVER forgive a late charge!! Another method I have seen is a reward system of a small discount if tenant pays on time. And it is important to really scrutinize through thorogh background testing, the tenants you choose.
Posted by
Denise S, PA
on
Sunday, May 31, 2009
RE: Never recieving rent on the 1st.
I've found out first hand the longer grace period you give them the longer it will take them to pay.
I only give them 2 days and after this the late fee is charged. In the state of Virginia, it is not required to give them a grace period. This is a courtesy not a law! Just a thought...
Posted by
JoAnne T, VA
on
Monday, January 8, 2018
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