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Quick landlord question

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Quick landlord question

Old 08-05-10, 03:41 PM
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Quick landlord question

I have a tenant who will be signing a lease tonight, she will start moving in on August 20th. The house is currently unoccupied.

When should I require her to pay her first rent? Tonight, or on the 20th, or whenever we agree upon? She would owe me the first month of rent ($1,100), $250 for August 20th through the end of August (Iím cutting her a break on that one), and I think that Iíll just be requiring 1/2 month security deposit. Itís somebody I know.

Also, what is a reasonable late payment fee? I was thinking $5 per day after the due date. What do you put in your leases?
Old 08-05-10, 03:43 PM
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Re: Quick landlord question

I give a 3 day grace period for rent, then $75 on day 4.

I have a renter moving on Aug 16, she gave me post dated rent/deposit checks on lease sign.
Old 08-05-10, 03:45 PM
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Re: Quick landlord question

I hate dealing with payments other than the 1st of the month. Just a PITA, personally. I'd get the security deposit now, make sure that's good and make her pay first rent when she gets keys.

I think I charge $50 if the rent is later than 3 days late, but I've never charged it. As long as the renter is upfront and honest, I will usually cut them a break.
Old 08-05-10, 03:46 PM
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Re: Quick landlord question

Get a post dated check. I have a 5 day grace period (or the Monday following if it is on a weekend) and then it is $25 +$5 per day.
Old 08-05-10, 03:47 PM
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Re: Quick landlord question

Originally Posted by Deftones View Post
I hate dealing with payments other than the 1st of the month. Just a PITA, personally. I'd get the security deposit now, make sure that's good and make her pay first rent when she gets keys.

I think I charge $50 if the rent is later than 3 days late, but I've never charged it. As long as the renter is upfront and honest, I will usually cut them a break.
Whew! I didn't want to admit that I never charge it provided they call and let me know they will be late.
Old 08-05-10, 03:52 PM
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Re: Quick landlord question

I've yet to charge it as well - and am pretty good if they are upfront and honest. And my new renter is beyond honest, I got her life story before she even filled out the rental app...left no surprises when i ran background on her though, which was really nice.
Old 08-05-10, 04:13 PM
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Re: Quick landlord question

Originally Posted by Liver&Onions View Post
I've yet to charge it as well - and am pretty good if they are upfront and honest. And my new renter is beyond honest, I got her life story before she even filled out the rental app...left no surprises when i ran background on her though, which was really nice.
Is that what the kids are calling it these days?
Old 08-05-10, 05:39 PM
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Re: Quick landlord question

Does your wife know that you have a woman moving in to your place?
Old 08-05-10, 05:42 PM
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Re: Quick landlord question

Originally Posted by U6C84 View Post
Does your wife know that you have a woman moving in to your place?
Old 08-05-10, 05:56 PM
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Re: Quick landlord question

Originally Posted by U6C84 View Post
Does your wife know that you have a woman moving in to your place?
Yes she does.

One other woman who looked at it was a total cougar - so naturally I had to tell my wife all about it.

This lady had her sagged boobs all propped up (oxymoron, I know) and hanging out, tight pants, and a bedazzled jean jacket. Then she got REALLY excited about hearing there's a tanning bed in the gym area ("I sometimes like to put on a bikini and tan - it's private right, I hate tan lines.") and then also was quite pleased about the bathtub ("I'm glad your bathtub is deep, I like long hot bubble baths with some wine. Oh, fifty gallon hot water heater? I love it."

I was already starting my letter to penthouse just in case the inevitable happened. But she thankfully didn't move in.
Old 08-05-10, 06:26 PM
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Re: Quick landlord question

Originally Posted by Liver&Onions View Post
Yes she does.


Not you... the other guy. It's an Otter thing.
Old 08-05-10, 06:32 PM
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Re: Quick landlord question

Originally Posted by Dr Mabuse View Post


Not you... the other guy. It's an Otter thing.

Right - heat and his wife issues. My apologies.
Old 08-06-10, 01:54 AM
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Re: Quick landlord question

Originally Posted by Heat View Post
I wasn't going to mention it, but yes, I am pretty sure that my wife thinks that I am having an affair with this other woman. The first time I met her was about a week ago.
Every time I get an email asking if I want a fling, etc. I now think of you.
Old 08-06-10, 02:15 AM
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Re: Quick landlord question

Originally Posted by U6C84 View Post
Does your wife know that you have a woman moving in to your place?
I wasn't going to mention it, but yes, I am pretty sure that my wife thinks that I am having an affair with this other woman. The first time I met her was about a week ago.

She is a single mother of three, average looking if you realy want to know. She had also indicated that she wants to buy the house once she gets enough of a down payment saved up which may be a couple of years.

Originally Posted by kvrdave View Post
Every time I get an email asking if I want a fling, etc. I now think of you.
There was one point where she thought I was cheating on her because she had looked in my email inbox and had seen spam emails like that. "Why does [Kara] want you to buy viagra? Who is she? How long have you known her?" (it was a spam email from some 'pharmacy')
Old 08-06-10, 02:35 AM
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Re: Quick landlord question

So awesome....because it happens to someone that is not me.
Old 08-06-10, 04:07 PM
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Re: Quick landlord question

I never understood "grace periods". If the rent is due the 1st but you allow 5 days grace, why not just say the rent is due the 6th?
Old 08-06-10, 04:12 PM
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Re: Quick landlord question

Because you'd never get it until the 10th every month.
Old 08-06-10, 04:13 PM
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Re: Quick landlord question

Originally Posted by asabase View Post
Because you'd never get it until the 10th every month.
Beat me to it.
Old 08-06-10, 04:13 PM
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Re: Quick landlord question

Because then they'd get it on the 11th.

Edit: Damn both of you!
Old 08-06-10, 04:54 PM
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Re: Quick landlord question

Originally Posted by Heat View Post
I have a tenant who will be signing a lease tonight, she will start moving in on August 20th. The house is currently unoccupied.

When should I require her to pay her first rent?
So that's who you're cheating with.
Old 08-06-10, 04:56 PM
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Re: Quick landlord question

So, Heat...you already have three kids with another woman you just met a week ago? I always knew your were scum!!!! Cheating bastard!!!!
Old 08-06-10, 05:05 PM
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Re: Quick landlord question

Originally Posted by NORML54601 View Post
I never understood "grace periods". If the rent is due the 1st but you allow 5 days grace, why not just say the rent is due the 6th?
Some state statutes require it.
Old 08-07-10, 11:28 AM
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Re: Quick landlord question

Last night I made the mistake of referring to my tenant by her first name. I normally refer to her as "my tenant", I need to get back into that mode.

So... what does Laura want you to do for her?
Old 08-07-10, 03:32 PM
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Re: Quick landlord question

"She said something about her pipes need cleaning..."
Old 08-07-10, 11:15 PM
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Re: Quick landlord question

For what it's worth, she wanted her rent due on the 25th of each month with the lease starting on the 25th of this month. Fine with me. I tossed in a $5 per day late fee starting on the second of the month (so about a week after the due date).

My wife today, starting up a casual conversation: "So, how many times have you been over at the house alone with Laura?"

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