Rent check ?

trap50 · 03-09-2006, 04:38 AM

First time. My renters were late this month. There is a $50 late fee. That wasn't included in the check. I'm thinking I shouldn't cash the check bring it says March on it. Should I sent it back/ Any help please.
Ron

Fshklr · 03-09-2006, 04:47 AM

Do you need $50 that much

...cash it and remind them of the due date and the fee you want to extort

IMO $50 for a late fee is absurd and 20 to 25 would seem the norm...you have renters that PAY!!! be thankful!!

personally..if the rent was paid by the 15th of any month and the due date was the 1st..I'd be happy, as I have had dealing with renter in the past some 15 yrs.... I will work with anybody, as long as I believe they are working with me, not drug addicts, or trashing my place...late or not..at least they are paying

give em a call, or stop by and voice your concerns..if any? as you said it is the first time

cutbank · 03-09-2006, 04:55 AM

Best thing to do is get to the bank and make sure the check will clear. A bird in the hand is worth two in the bush!

Troller · 03-09-2006, 06:14 AM

I would just remind them of the late fee. Let them know if it happens again you will have to charge them. You said it was the first time. How long have they been renting from you?? How late was it?? I allways give a couple of days before I worry about it. I think as landlords we think it is due on the 1st and the renters think they should mail it on the 1st. Its better to have a renter that is late once or twice a year than no renter at all.

As far as $50.00 being to much I dont know how someone can say that is to much with out know how much you are collecting for rent each month. Besides the fee is thier to discourage renters from being late.

skybuster · 03-09-2006, 06:29 AM

I have a renter that is always late, but I do get my rent. I could nail him for the fee every month, but I am just happy to have a good renter. He hasn't complained about a single thing and it appears that he has actually made some improvements to the property, so I am pretty lenient with him.

If you have good renters just give them a little reminder that you need the rent on time. You definitely don't want to scare away good people. I have been through some bad ones and even an eviction, so as long as I get the rent every month and the house is still standing I am happy.

Also remember that Feb. was a shorter month than usual so maybe that fact slipped their mind. If you have the rent now and it was due on the first, it isn't that late.

Sweet Melissa · 03-09-2006, 07:02 AM

Quote:

If you have good renters just give them a little reminder that you need the rent on time.

I agree with skybuster, and I don't think $50 is too much for a late fee, unless they've made arrangements beforehand.

EULACHON · 03-09-2006, 07:40 AM

If they have been renting from you for a while give um a break and just remind them.

If this is the second rent check and it's late charge up the 50

Paul

wthr4d · 03-09-2006, 08:42 AM

first off, whats more important...the rent or the late fee? go cash the rent check and send them a note saying the check was late. if their tardiness didnt cost you anything let it slide until next time. $50 does seema bit steep to me as a renter. every place I have been the late fee was $25-35, but if it costs you that much timeand money to deal with a late check then thats whats fair for your compensation.

paul

slowdawg · 03-09-2006, 09:00 AM

Good renters are hard to find. My renters pay by the 10th of the month. I would not think of charging a late fee.
I know that they will pay but not on the first. I think that we need to think back and remember when we were short of money.

Wayne

Tacklebuster · 03-09-2006, 09:14 AM

Quote:

First time. My renters were late this month.

Count your blessings

Three years ago we bought a new home and thought it would be a good idea to rent our house out instead of selling it. It has been nothing short of a nightmare for us. Good luck with your rental, I can't wait to sell mine.

Rocky · 03-09-2006, 11:12 AM

I would voice my concerns to the tennant. Not knowing how much the rent is its hard to say if 50.00 is too much or not but...if its in the contract that they signed then they should not have any problem. Yes as people have pointed out good renters are very hard to find and ya hate to lose someone that will be hard to replace....but also part of being a good renter is paying your rent on time and if you have time issues with your payment then you should let your landlord know.

flyfish101 · 03-09-2006, 02:22 PM

Since you are the landlord, you get to make choices. It's not an unreasonable amount ($50) they know if the rent is late they have to pay. That should have been in your rental agreement. You could let it go with a reminder, that's what I did with our renters the first time. Or you could discount it, and tell them it will be full price the next time. The nice thing is that you get to decide. It's definitly nice to have renters.
Good luck

fishboys · 03-09-2006, 03:20 PM

I lease a store front and if my check is one day late its 100.00 that said 50.00 is not to much if thats what you told them, but I am going to say I have seen lean times and short checks and short months I think a friendly reminder would be a good thing for you to do.

sinker · 03-09-2006, 04:09 PM

There's alot of variables on this one. Long term tenant? Good tenant??

We did just leave a short month.

kc1 · 03-09-2006, 05:13 PM

It's a good market for landlords in Salem, right?
Kick <them> out and find a more respectable tennant..

skybuster · 03-09-2006, 06:23 PM

That statement must not be coming from a landlord.

Good renters are hard to find. I am willing to work with mine as long as they are honest with me. Once I catch them lying they are gone.

A bad renter is one that doesn't pay rent for three months and cancels the garbage service. Then after you evict them you find a stack of garbage in the backyard that fills 2 truck loads, chock full of dirty diapers and rotten food. Not to mention the filthy house that reeks of cigarettes even though the rental agreement clearly states no pets or smoking.

Good renters are hard to find.

Rocky · 03-10-2006, 01:57 AM

lol thats a little harsh kc1...maybe a little diplomocy might:

A: Keep good renters in there
B: Keep your house intact
C: Keep from going through all the hassle of rerenting, which
is no small task

trap50 · 03-10-2006, 03:33 AM

The renters were landlords. They were the one that suggested $50. Even had a lawyer go over the agreement. They have only been renting for 3 months. So that said they are only late 33% of the time. They always cut it so close they have to bring the check to me. Really wish I could get them out. Don't like being a landlord.

sinker · 03-10-2006, 04:23 AM

You also have to think if the next people are going to be worse or better than what you have.

yankemnbankem · 03-10-2006, 09:16 AM

My second house (and a brand new house) we were going to rent out.......but I weighed the good and the bad and looked at others rentals and.......We decided not to rent based on late pays, no pays, damage to the new home, meth freaks and the other nine yards of trash to haul away. I think rentals are a great investment if it's the right house. You have to be able to stomach decisions like what you have now. If you know the people at all and they are good people......keep them happy and just remind them. This way they will stay happy and not rip up your toilets when they leave, write with ball point pens on the walls, break light bulbs and leave water flowing from all spickets not to mention the eight loads of garbage in the garage.