What happens when a tenant pays late?

Category: Rent Collection and Tenant Rules

Reminders, late fees, Pay or Quit notices, etc. Typically, there is a 3 day grace period, then a late fee is added. 2019 Update: As of July 1, 2019, Nevada state law has capped late fees at 5% of the monthly rent amount. Our system automatically charges late fees on unpaid balances. If tenants don’t pay by the 5th day of the rental month, we send a process server to post a Pay or Quit notice and charge the costs to the tenant. These fees are specified in the lease.

If the Tenant does not pay within 7 judicial days after the Pay or Quit notice is posted, we file eviction with the court. Since we must wait 7 full judicial days after posting a notice, we normally file eviction in the middle of the month. We also have a reminder system for tenants and make other attempts to collect the rent before going to eviction. 2021 Update: Due to new state laws passed, all evictions with non-paying tenants are taking 3 months or more. Every tenant who is not current on rent must be allowed to apply for rent assistance, and landlords cannot refuse to participate in the rent assistance program.

NEW for 2022: Credit Reporting! Starting early 2022, we will report ALL tenant rent payment patterns, including on-time, late, missed payments, and even unpaid debt after move out. Most property managers can only report positive payment history, IF the tenant opts in. Our new program will allow us to automatically report all payment histories to TransUnion and Equifax. Tenants will not need to opt in. We believe this will encourage more on-time payments, plus help us with attract more responsible renters.