Start your membership account today...  Access to credit reports, 100's of rental specific forms, agreements, letters, checklists, how-to articles, guides, expert advice and much more!  Even a FREE, 3-day trial!

Not a Member?
Get a Free Trial Membership

  Get FREE Stuff! Run Credit Report Rental Forms  Shop & Buy Forms!  Advertise Your Rental Customer Care

Welcome to Landlord.com's Discussion Forum
Register Latest Topics
 
 
 


Reply
  Author   Comment  
LandlordMalone

Registered:
Posts: 1
Reply with quote  #1 
We had a family rent from us in June, 2014. They were relocating so we gave them a $200 break on the rent for 3 months and for the remainder of their year lease it would go back up. This is all in the lease they signed. We also put in there that rent is due on the 1st, but a late fee of $25.00 would be charged if rent was not received by the 5th. (We live out of state, so they mail it). For every day rent is late past the 5th, $10/day would accumulate until rent was received. Out of the last 9 years we've been renting the house (5 different tenants), we've never had to even charge the $25 late fee. This time around, our tenants have been late more often than not. They were two weeks late in both November and December and when they paid, they only partially paid their late fees. She called me in early January to let me know that her wages are now being garnished because of her ex-husband and would be late again. We finally received January rent in early February, but it did not have ANY late fees on it. February rent was JUST paid on the 26th, with again no late fees. Now they are late on March rent and based on the fact they just paid Feb. on the 26th, March will probably be nearly a month late as well. We have sent them invoices reflecting their late fees and rents due. My problem is, I NEVER imagined we would be charging anyone $640 in late fees alone, which makes me feel like the $10/day is excessive for me to charge now. I never thought about it before because it was never an issue and I certainly never thought it'd be SO MANY DAYS at $10/per day. So, I guess my question is, is $10/day too much for a landlord to charge in the first place or should I just keep it where its at?
dishrodger

Registered:
Posts: 314
Reply with quote  #2 
those fees are not legal in most states...allot of landlords make that mistake...I charge a flat 50.00...if they do not pay I start eviction...THIS IS A BUSINESS
dishrodger

Registered:
Posts: 314
Reply with quote  #3 
I charge the flat 50.00 also
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Apartment Finders > > Member Log-in > Free Trial Offer > Free E-newsletter > Customer Service > Get Free Stuff! > Run Credit Report > Rental Forms > Vacancy Center > Do-it-yourself > Evicting Your Tenant > Foreclosure Resources > Landlord Discussion Board > Income Tax Resources > Information Center > Join Landlord.com > Landlord Law > Library > Multi-family > Professional Advice > Rental & Property Mgmt > Rent Collection > Repair & Maintenance > Security Deposit > Software Center > Tenant Screening > Vacation Homes > What's New > Rental Agreements > Free Leases > Inside Our E-store > > Security Deposits > > Landlord Daily News > Rental Agreements >
LandscapingSanJose.net Resources: Cleaner Sunshine coast