What if the tenant pays the rent late?
All rents are due on the first day of each month and late after the 3rd of the month. Often the tenant will call Estey to say they are going to be late and state when a payment can be expected. If the rent is to be received after the normal date of transferring rental proceeds to the Owner (15th of the month) or as mandated by the DRE, you will be notified so that you can take the necessary action with your accounting. Estey will give the tenant a courtesy call on the 4th, however they are still late. The late fee is held by Estey Real Estate for the extra work that the tenant is causing in administration of the issue so that the cost is not transferred to you. If the tenant does not respond by paying rent, the late fee, a 3 day notice to pay rent or vacate is served. We hold the option of continue to eviction or accepting the payment.
