Rent due date July 4
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Rent due date July 4 (by Lois [CA]) Jun 30, 2022 5:20 PM
       Rent due date July 4 (by Lana [IN]) Jun 30, 2022 5:42 PM
       Rent due date July 4 (by David [MI]) Jun 30, 2022 5:46 PM
       Rent due date July 4 (by DJ [VA]) Jun 30, 2022 6:07 PM
       Rent due date July 4 (by Pmh [TX]) Jun 30, 2022 6:17 PM
       Rent due date July 4 (by GKARL [PA]) Jun 30, 2022 7:08 PM
       Rent due date July 4 (by Small potatoes [NY]) Jun 30, 2022 8:09 PM
       Rent due date July 4 (by Robert J [CA]) Jun 30, 2022 8:56 PM
       Rent due date July 4 (by Homer [TX]) Jun 30, 2022 9:00 PM
       Rent due date July 4 (by plenty [MO]) Jun 30, 2022 10:39 PM
       Rent due date July 4 (by MAP [NY]) Jul 1, 2022 7:36 AM
       Rent due date July 4 (by MC [PA]) Jul 1, 2022 10:18 AM
       Rent due date July 4 (by Oregon Woodsmoke [ID]) Jul 1, 2022 11:45 AM
       Rent due date July 4 (by S i d [MO]) Jul 1, 2022 1:20 PM
       Rent due date July 4 (by Phil [OR]) Jul 1, 2022 4:27 PM
       Rent due date July 4 (by zero [IN]) Jul 2, 2022 4:22 PM

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Rent due date July 4 (by Lois [CA]) Posted on: Jun 30, 2022 5:20 PM
Message:

With tomorrow being the 1st of the month, and Monday the 4th is a bank holiday, it occurred to me that some of my tenants may need to be reminded to get their rent in by this weekend to avoid a late fee.

I'm curious if any LL's here send reminders of this sort....

Thanks --99.89.xx.xx




Rent due date July 4 (by Lana [IN]) Posted on: Jun 30, 2022 5:42 PM
Message:

My late fees begin on the 3rd of the month and are $5 per each day late. I send a text message on the 2nd stating:

Late Fees of $5 per day begin tomorrow. Rents are due in full by or on the 1st of each month. Please inform me if you are having problems paying."

This message is uniform. Some tenants sent back irate texts especially the sheriff officer I evicted for non payment.

If they mess up the 4th, my late fees might hurt, but they just need to be more adult. --216.23.xxx.xx




Rent due date July 4 (by David [MI]) Posted on: Jun 30, 2022 5:46 PM
Message:

Tomorrow the 1st is a Friday. The 2nd is a Saturday , when banks are open and post office delivers. Not seeing the problem --50.4.xxx.x




Rent due date July 4 (by DJ [VA]) Posted on: Jun 30, 2022 6:07 PM
Message:

I agree with David.

If it were me, they would get the notice of unpaid rent email on Saturday, if they don't pay on time tomorrow.

--68.229.xxx.xxx




Rent due date July 4 (by Pmh [TX]) Posted on: Jun 30, 2022 6:17 PM
Message:

not my job to remind anyone. they know the rent is due on the 1st. bank holiday is no excuse to pay late. 3 days is the limit. 1.1 is a pass. --107.120.xx.xx




Rent due date July 4 (by GKARL [PA]) Posted on: Jun 30, 2022 7:08 PM
Message:

My "reminder" is a Quickbooks invoice with a payment link. In other cases, the money is debited from their account. The best reminders are systems for collection of rents IMHO. --209.122.xx.xxx




Rent due date July 4 (by Small potatoes [NY]) Posted on: Jun 30, 2022 8:09 PM
Message:

In New York rent is not late until the 6th --172.58.xxx.xx




Rent due date July 4 (by Robert J [CA]) Posted on: Jun 30, 2022 8:56 PM
Message:

Do don't know how lucky you are just getting basic rent close to the due date. Here is Los Angeles, where the sun shines and the government is more corrupt than you can imagine. For 40 months tenants not need pay any rent! If a landlord mumbles something about an eviction -- that's a $20,000 fine paid by the landlord to the tenant.

We have no rent raises. The City doubled some of the "Housing Fee's" paid annually to the City. If we are 30 seconds late on any property tax, that's an automatic 10% fine added to the property tax.

--47.156.xx.xx




Rent due date July 4 (by Homer [TX]) Posted on: Jun 30, 2022 9:00 PM
Message:

I donít send reminders, however on the 3rd we do pass out 3 day notices. Does the trick most of the time. --66.169.xxx.xxx




Rent due date July 4 (by plenty [MO]) Posted on: Jun 30, 2022 10:39 PM
Message:

I have up the grace period. It's late the next day. Even if it's Christmas the next day the late fee applies. You can pay early but don't pay late. Just saying. --172.56.xx.xxx




Rent due date July 4 (by MAP [NY]) Posted on: Jul 1, 2022 7:36 AM
Message:

Lesson from this thread--don't do RE investing in BLUE states! --72.231.xxx.xx




Rent due date July 4 (by MC [PA]) Posted on: Jul 1, 2022 10:18 AM
Message:

No different from any other Holiday. --73.230.xxx.xx




Rent due date July 4 (by Oregon Woodsmoke [ID]) Posted on: Jul 1, 2022 11:45 AM
Message:

I checked with my bank. They are open on Saturday, so that is two days to get the rent paid before the national holiday.

I expect rent on time, but just sort of off topic, judges are very unlikely to count national holidays in the day count. You know, in case you decide to evict anyone for their rent being a day late this month.

I would not remind my tenants that it is a holiday weekend. My tenants are smart enough to figure out how to get their rent paid and it would be a bit of an insult to point it out to them that Monday is a holiday that might affect their payment. --76.178.xxx.xxx




Rent due date July 4 (by S i d [MO]) Posted on: Jul 1, 2022 1:20 PM
Message:

I don't sent reminders either. I'm currently converting my system over to Builidum, a professional property management software, and it sends out reminders via email 5 days prior to the rent due date automatically to let the tenant know that the rent is scheduled to post to their account on X-date.

My rents are not all due on the first. I have bi-weekly and bi-monthly payers, so 1st, 15th, and each Friday someone is paying.

Almost everyone from age 8 to 80 has a "phone" these days, even my poor Class C tenants. Calendar apps on phones make this easy cheesy! Set up a reminder for yourself if one is needed.

"Rent?" the day after it's late is all I send. And even that is getting automated on Buildium.

Here's a secret: they all know it's a holiday weekend, they all know the rent is due, and they all know banks are closed on Monday. They're counting on you to be lazy and either not care or not enforce your rules. No one "forgets" that rent is due: they hope YOU forget! A financial "reminder" in the form of a late fee helps avoid such future "forgetting". --184.4.xx.xx




Rent due date July 4 (by Phil [OR]) Posted on: Jul 1, 2022 4:27 PM
Message:

Depends on your state law....and your contract etc. .....and how you prefer to run your business.

Oregon requires until midnight on the 4th, our contract says 6:00PM on the 5th. some of my rent is in already, I'm sure one or two will arrive on the 6th....

Good luck trying to legally enforce if it falls on a Holiday if it challenged. I have bigger fish to fry.

MAP of NY---I am willing to bet that Robert J does quite well in CA, I do very well in OR. Blue state--Red state-- just got to know the rules and the laws. Don't like them all, just part of the business. --76.138.xxx.xxx




Rent due date July 4 (by zero [IN]) Posted on: Jul 2, 2022 4:22 PM
Message:

If the rent falls on a holiday or any day that the bank is closed I automatically push it to the next business day.

I do this because all but one of my tenants deposits the money directly into the bank. Makes it easier on me with no chasing the mail. I do have a couple people that pay ahead and that is appreciated but no necessary.

The one hold out that pays with a check has learned to get it to me by or before the due date.

My tenants pay all thru the month. Some on the 1st, some according to when SSI or disability pays. One still pays weekly.

--107.147.xx.xxx



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