LATE FEE OR NO LATE FEE?

I charge a $20 late fee if I don’t get the rent by the seventh day of the month. Some tenants regularly pay the $20 late fee, because $20 is nothing compared to, say, a credit-card late fee.

I had a tenant who promised to pay on the 11th. He changed to the 15th. Then the 20th.  Today — October 29 — I have just one late tenant.  She said she’s not paying because she had a stroke and is broke.  She sounded pretty good on the phone for a stroke.  I asked my wife, a former RN, about that: “Can you talk right if you just had a stroke?”

My wife, Alice, said, “It depends what part of the brain it affected.”

One guy had his foot cut off due to diabetes. That’s a decent excuse.

I generally don’t allow late payers to slide into the next month. “Mom is sick . . . My grandmother died . . . I switched banks and they messed up my account.”

Why didn’t you call me?  Why am I calling you?

Maybe I should charge more than $20. Some landlords charge by the day, like $10/day.  But life is too short for that kind of intense bookkeeping.

I have a tenant who has been late every month for 30 years.  I hope I outlive him to get his final month’s rent.

Sometimes I lean too hard on the tenants and get no late fee — no rent.

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Yiddishe Cup is a soul band, Jewish and otherwise.  Check out our version of Aretha’s “Respect.”  We play a wide range of American pop music.  Please don’t boot us out of your wedding after the hora.  Hey, we’re better than those other wedding bands!  We’re slicker than schmaltz laced with WD-40.  Our newest singer is Tamar Gray.  She works the crowd.  Fun . . .

https://www.youtube.com/watch?v=EyjzxJW3y78

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