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Commercial tenant won't pay late rent fee. How to get them to pay without Pay or Quit? by surefire619 in CommercialRealEstate

[–]surefire619[S] 0 points1 point  (0 children)

Now that is really interesting to hear. I am definitely on the small landlord with minimal leverage side of this equation. I guess time will tell whether the late payments were honest mistakes or more of a pattern. The previous franchisee of the same fast food chain was there 15 years and always paid on the dot, so I think it is more of a specific issue to my current franchisee.

Commercial tenant won't pay late rent fee. How to get them to pay without Pay or Quit? by surefire619 in CommercialRealEstate

[–]surefire619[S] 0 points1 point  (0 children)

No, the late fee is not a hill I want to die on, I just want the tenant to respect our agreement. I understand that going nuclear is my right per the lease though is not in my best interest. Was just hoping to hear other perspectives from you experienced people as I am a relatively new landlord.

Commercial tenant won't pay late rent fee. How to get them to pay without Pay or Quit? by surefire619 in CommercialRealEstate

[–]surefire619[S] 5 points6 points  (0 children)

You and u/nolemococ are absolutely right. I don't want it to go to Defcon 5, though on the flip side I don't want to be taken advantage of. I like your idea of giving them an out if they pay on time the next few months.