Renter pays late all the time-lease is up. What is legal for late payments?? (Salinas: real estate, how much)

[dweej]

Originally Posted by maulwoof

I'll look for that forum area. I didn't see it one initially. ~
Hard to find a tenant who can afford that kind of $.

Hmmmm, I can see how you're in sort of a bind. He probably realizes that and knows he has the upper hand in this situation. If he's the best tenant you think you can get, I guess I'd let sleeping dogs lie (hey, if he continues to pay the late fee that's already in place, more money for you, right?). How much rent is he paying? With all the foreclosures these days and looking for a place to live, I bet you'd be surprised at what people can afford to pay for rent....

[city414]

as long as he pays u is all that matters, better late than never, do you even talk to your tenant or try to get in contact with him/her

[maulwoof]

The $1000 a month is my rent in Reno, NV. My house that I lease is 20 minutes from monterey in south Salinas and I rent it for $1600. Economy has very few folks with the money to pay that are what I would call good risk renters, A local property management Co. wants to take over and raise the rent to $1800, but no guarantee for any takers and it may sit empty for months while I wait.I know my current renter can't afford that. He eventually pays, But I think he gets a great deal for a $50 late fee when he pays 2-4 weeks late. How much can I raise the fee before considered punitive?

[maulwoof]

I only get $50 for a late fee. I sure would like to raise it a bit. He is as clean as could be. just continually late and when I carry him for a month for 50 bucks....hmmm....I would take a $1600 loan for a month at $50. He tries, but it is a touch over his salary comfort zone. Can I raise th late fee amy w/out being punitive in Calif.

[maulwoof]

at least 2x a month. Always hard luck stories and eventually he comes up with it.

[city414]

investigate....see what the problem really is

[revelated]

Too bad it's so far. I'd definitely take that rental agreement on so you could kick his nonpaying self to the curb. I pay more than that now for a two bedroom apartment.

[DMenscha]

I wouldn't renew his lease. He can still occupy the place on a month to month basis under the terms of the old lease.

I'd also pepper him with 3 day pay or quit notices on the first day he's late.

[SOON2BNSURPRISE]

I am wondering, with the decline in housing values is the home still a $500,000 home? The homes we are in the market for used to be in that range and have declined in value quite a bit. Homes that were selling for close to $1,000,000 are now in the $500,000 range. Even in Santa Barbara many former $1,000,000 homes are selling in the $500,000 range, but then I didn't think they were worth $1,000,000 even at the top of the market.

I would do as DMencha stated and not renew the lease. At the same time maybe the tenent needs to understand that things are not as they have been and you will be expecting the rent on time.

[ORE69]

There is no Place for people like that in life, irresponsible!!

Hope you got rid of him..
Live and Learn

Do not be nice when it comes to business!!!