Tenant always late

[CAGuy25]

Re: Never waste time

Ok, I'm still unclear, you're saying the rent is due on the 12th, but they have a 15 day grace period. If that is the case, then the rent can be paid on the 27th of the month and not be late. Which means if they pay the rent on the 14th and the bank holds the check for 10 days, that's still the 24th, and before the end of the grace period on the 27th. So there should be no complaining.

Zappy,


I hope you are sincere in your advice. I did, in fact, meet with the bank President yesterday, Monday, January 27, 2003 at 9:00am.
They ( the bank ) has a policy of putting a 6 ( business ) day hold on any checks that are written from an out of state bank. She raised a very good point during our conversation. Why haven't they ( tenants ) transferred their funds to a local bank in the past 5 months. They have had their address changed on the checks. We do have overdraft protection in place, however, that isn't the issue here. The rent is DUE ON THE 12TH OF EVERY MONTH. We were kind enough to give them a 15 day grace period before we imposed a 5% late fee. Why is it so hard to give us the out of state check sooner, so there are no issues of a late charge?


I have been a member of this site for some time and it seems a good idea to post various issues so we all can learn from one another. I feel it is important to take the issues at hand to the public so we are able to teach one another.

Again, I sincerely hope you are sincere in your posts and welcome your imput, however, we will not always agree.



Regards

 

[CA. Landlady]

Not! The person is saying the rent is due on the 12th and considered delinquent on the 15th.

Read your lease to try and understand. See if your rent is due on the 1st and delinquent on or about the 4th or 5th of the month.

 

[CAGuy25]

The point is that she doesn't even know how to verbalize what the terms are, so how can she possible be able to explain these terms to someone else in order to clear up any misunderstanding if she herself is speaking in "tongues". She needs to correctly verbalize what she means before she can try and clear up any misunderstanding. It's possible she is saying that the tenant has 15 days to the tenant and the tenant is understanding this as 15 days from the 12th.

 

[Mei-Mei]

Call to Action4u,

Hi. I know you must be frustrated, but there are some points of consideration here.

First, the bank's holding period has no bearing on the tenants. If they pay their rent on the 14th and it is due on the 12th then yes, they are late. But in the lease you have both agreed there will be no penalty until the 15th. So I think your only recourse would be to refuse to give a recommendation when the people move.

Further, using your logic, there is NO WAY the people could pay their rent on time! If they paid on the 12th the bank would STILL hold the check until the 22nd. That would mean that the people would actually have to pay their rent on the 2nd to make the funds available to you on the 12th. Do you see how illogical this is? If you go to a department store to buy a blouse and write a check the department store doesn't get the actual funds until perhaps a week later. But you get the blouse that day. The department store doesn't say, "Come back in a week and get your blouse." That is why some stores insist on cash transactions only.

You can do this as well. Let your tenants know that you will only accept a cashier's check, money orders or cash (be prepared to provide receipts). You are under no obligation to take checks if for some reason you don't wish to.

 

[corset]

tenants always late

wow
overdraft is a great thing to have it protects you the consumer, overdraft can be either done from the saving account or even link to a credit card, once the check is written and the money is not there it saves the trouble of being insufficient funds.
citibank has a great program. other banks offer it as well, ex well fargo and citizens bank just to name a few.
as for the tenants giving you the check at the 12th day, they are not late.they are giving you the money according to the lease.
if the check is received after the 12 day then they are late
its best to have the money in another account to hold just for these problems.
a better way of saying this rob peter to pay paul.
thanks

 

[zappy]

THANK YOU , corset finally an intelligent answer!!!!!

So call to action, get on the ball and get overdraft checking..no excuses!

 

[lkc15507]

I've only skimmed these posts, but I've seen a couple of things that to me are obvious. Someone, I am sure, will rip me good. The rent is due the 12th. They pay the 14th. The grace period provides for a period to allow LATE payment without monetary penalty. It does not relieve them of the responsibility to pay rent on the due date. After the grace period, a financial penalty applies. That does not mean that payment was not late in the first place. If the lease states that payment is due on the 12th, it is due on the 12th, not the 14th as it seems they pay. Seems to me this is habitual late payment of rent.