When is an acceptable time frame for accepting rental payments from tenants if the due date is every second Friday? As long as when I wake up that morning it's in their I should be happy?
I have NO intentions of requesting it's in their before hand. I just mean to bring up the topic of conversation. The follow up question to this know is, if the tenant (by choice or default) insist on transferring it Thursday night so it's available Friday morning ... are we (as LL's and PM's) obliged to accept 'bank delays' or public holidays as a reason for late payment? Accept might be the wrong word, but I think my point has come across.
Being due Friday is interesting because any late payment means it won't be cleared until Monday.
I'm the type of person who pays his rent 2 days early from the due date for a couple reasons that include possible bank error, unknown bank delays and to create a level of openness and willingness. But not everyone thinks the same as me.
This is obviously for self-PM's. I'm NOT in this position, I have great tenants (who dropped off rent to me in cash because their internet wasnt hooked up) but this is a general 'make me a better LL/PM' type thread.
Cheers
I have NO intentions of requesting it's in their before hand. I just mean to bring up the topic of conversation. The follow up question to this know is, if the tenant (by choice or default) insist on transferring it Thursday night so it's available Friday morning ... are we (as LL's and PM's) obliged to accept 'bank delays' or public holidays as a reason for late payment? Accept might be the wrong word, but I think my point has come across.
Being due Friday is interesting because any late payment means it won't be cleared until Monday.
I'm the type of person who pays his rent 2 days early from the due date for a couple reasons that include possible bank error, unknown bank delays and to create a level of openness and willingness. But not everyone thinks the same as me.
This is obviously for self-PM's. I'm NOT in this position, I have great tenants (who dropped off rent to me in cash because their internet wasnt hooked up) but this is a general 'make me a better LL/PM' type thread.
Cheers