LATE RENT REMINDER
Either our bookkeeper has made an error or your's has because we have not
credited your rent as paid.
Approximately, one-half of your rent goes to pay the building's operating
expenses and the other half of the rent goes to pay the mortgage. If they are not
paid on time, the mortgage payment is returned for a late charge as high what
could amount to be hundreds of dollars. It is necessary that we have your rent in
time to avoid this late charge. As you know your rent is due on the FIRST day of
each month, if we don't receive it, in our office, and the full rent payment by the
evening of the FIRST day, we impose the maximum late charge amount against
your account. If you don't include this late charge with your rent, your rent may be
raised automatically to include it. If your rent is consistently late, the costs of
collection must be borne by you. Your rent may have to be increased to cover this
additional operating expense.
If your rent is going to be late, (past the first of the month), you must call our
office and make special arrangements or you run the risk of an eviction action
being filed in court. This is a necessary business step due to the few tenants who
fail in their rent responsibility and would like to remain in arrears as much as
possible.
Now let's review our rent policy. We insist the rent be in our hands when due, on
the first of the month. There is a late charge on rent received late. Normally,
eviction proceedings will be instituted and credit impairment will be made on the
fifth day.
This notice is being given reluctantly. We hope, you have good luck in your
future money management. Please try to join the majority of your neighbors in
prompt and conscientious rent payments.
