How do you handle late rent payments?

Original post

What are your go-to strategies or policies when tenants pay rent late? Do you charge late fees, offer grace periods, or use automated reminders?

Reply by Nathaniel Callahan

Innago handles it. Adds the fee to the invoice and that's how it gets managed.

Reply by Jess

I offer a grace period (3-5 days, but there may be a required period depending on your state), then automate fee collection after that (also with Innago). Don't bend the rules! Establish a procedure in the lease and stick to it, as that's a dangerous game to play.

After the period, I send them a pay-or-quit notice, and it doesn't typically escalate past that.

Reply by Bryon Stout

My late fee process is the following..

6 day grace period. On day 7 they get $50 fee added to their rent payment. Then every 7 days an additional $50 fee is added, This goes on until rent is paid in full. I DO NO allow partial payments of rent.