Reminding Tenants About Rent
We are new landlords and wonder when you expect the rent check and if you give your tenants some leeway. For example, you’d obviously like your check before the 1st of the month, but you give them until the 5th to get the check to you. Do you start reminding them on the 1st? Tell…
We are new landlords and wonder when you expect the rent check and if you give your tenants some leeway. For example, you’d obviously like your check before the 1st of the month, but you give them until the 5th to get the check to you. Do you start reminding them on the 1st? Tell them you’ll add a fee if payment isn’t made within 24 hours? As you can probably tell, we didn’t get our rent check yet and it’s the 1st of the month. The tenants always paid before the 1st prior to this, so we’re puzzled about what to do.
These are great comments. I’m new as a landlord, and I’m waiting for the first month. Today, it’s the 2nd of Mar and nothing yet.
I’m going to follow some of your advices and be patient. On my contract, it’s stated to charge a $75 fee if rent is paid after the 5th business day.
I have been a landlord for several years and have always just had my tenants go direct deposit. I have them schedule a payment on a certain date and it goes directly into my account. I don’t know if this helps the current situation but, for the future this has always worked for me.
Prior to the direct deposit, I just asked them for the all the checks written out and dated and I would deposit them when the time comes.
If the person is late, maybe ask them for a bunch of prewritten checks so they “dont forget” in the future.
Agree with agent of the squid–figure out when you need it by and ask them for it before then. There are differing expectations out there so discuss in a friendly way with the new tenants.
I agree that there’s nothing draconian about this, because he’s telling tenants upfront about his expectations.
I personally give five days, three days feels tight to me. But the point is that he’s doing his job as a landlord to set expectations.
Chrishtopher, you actually get tenants with draconian conditions like that? Do you threaten to kneecap them after a month?
Posted by: cmu at April 2, 2010 1:57 PM
What’s draconian about it? Tenants rent on a monthly basis. Rent is due the 1st. My mortgage is due when it’s due, same with the electric bill, gas bill, etc. Bills have due dates, the rent is a bill. I pay all my bills on time and the rent is a bill I expect my tenants to pay on time.
If you are late with a credit card payment you get a finance charge right? Same premise. Rent is due when it’s due. If you’re an adult enough to have a job and rent an apartment you are capable of paying on time. If you can’t handle it don’t sign the lease (and no, I have no problems getting tenants).
There’s a larger problem here. Nice people create conflicts all the time because they’re assuming that there’s this universally shared notion of acceptable behavior, and that it is therefore unnecessary to set explicit expectations about other people’s behavior. They assume that the same forces that are keeping them nice
(what will everybody think?)
are working on everybody. This isn’t true, and when you are a landlord, this assumption sets you up for trouble.
It’s useless to ask what other people find acceptable. As the landlord, it’s your responsibility to determine what’s acceptable to you, and clearly communicate your expectations to your tenant in an emotionally neutral way, ideally before there’s a problem.
I would go ahead and figure out what your expectations are, write them down in a clear, emotionally neutral letter and deliver it to your tenant, perhaps along with a friendly chat in which you explain that you need to clarify the rent due date.
i must be mr. nice guy around here. If they have a good track record, i don’t bother anyone until the 20th. If they have a bad track record, i give them bill on the 10th and if we are in litigation on non-payment, the rent bill comes on the first. On the other hand, the only people I’ve ever litagated against are people on the friends and family plan (don’t go there – i don’t do this plan anymore) or relatives of deceased tenants who want to sell me imaginary property rights. If you treat people right, it is generally my experience that when it is one on one and you offer people respect, this works. Even when someone has a real problem and can’t pay, it is easier (and btw, cheaper) to treat them with respect and dignity than bills and notices.
Chrishtopher, you actually get tenants with draconian conditions like that? Do you threaten to kneecap them after a month?
Guess OP can’t read too good…I said Citibank is not to be fooled with re. postal date, not the other way around.
I’m beginning to sympathize more with your tenant.