Can tenants pay rent late because of a holiday?
Q: I have a question about the legality of collecting rents on the first. It seems several of my tenants believe that they can pay their rents late, on the second, when the rent falls on a holiday (like today). Their leases specifically state they have no grace period, and a lock box is provided for after hours payments and for when the office is closed. Yet, over half the tenants have not paid rent today. Their leases do call for a late fee when rent is not received as of 9 pm on the 1st of a month. Am I justified in charging them the late fee? Or should I waive them this time (and hopefully not set a precedent) and send a reminder out to all tenants that rent is always due on the first, regardless of day of the week, holiday, or whatever?
A. It sounds as if your tenants are making an honest mistake. I would avoid charging them the late fee this time. Consider sending out a letter now as well as before the next time the first falls on a holiday to remind them of their duty to pay rent. It’s nice to have the rent paid on time but there’s not much you can do with it until the banks open after the holiday. If you do decide to send out a letter reminding them that rent is due on the first despite the holiday, keep a copy of the letter along with a list of all tenant to whom you sent the letter.
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