I've lived for twelve years in a rent stab in Murray Hill. The landlord has *always* offered the option of a late fee if your rent is more than ten days late. Over the years, in order to avoid cash-flow problems, I've simply found it easier to swallow the late fee and pay the landlord outside the grace period (but never more than a day or two). Lately, however, the landlord has been getting very... [more]
I've lived for twelve years in a rent stab in Murray Hill. The landlord has *always* offered the option of a late fee if your rent is more than ten days late. Over the years, in order to avoid cash-flow problems, I've simply found it easier to swallow the late fee and pay the landlord outside the grace period (but never more than a day or two). Lately, however, the landlord has been getting very aggressive about following up on late payment (3 day notices; threat of removal) while still providing the late fee as an option. At what point does the late fee become pro forma, and not an actual benefit you can expect to take advantage of? It's worth pointing out that the landlord (which switched ownership a few years back) has pretty much said he doesn't want any more rent stabs in any of his buildings.
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Response by truthskr10
about 13 years ago
Posts: 4088
Member since: Jul 2009
It's a difficult question for most on this board to answer.
As most pay market rent, the late fee is more like 30 to 60 dollars, not 3 to 6 dollars.
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Response by NWT
about 13 years ago
Posts: 6643
Member since: Sep 2008
The late fee is on your first lease, so had to be included in subsequent leases.
Using the landlord as a lender is risky. There're probably better options than paying 3-5% per month for money if you can't get your cash-flow act together.
Chronic late payment of rent can be grounds for a holdover eviction. As you've seen, the landlord is paving the way for that, with notices and threats. Each one is a mark against you when you're taken to court.
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Response by ab_11218
about 13 years ago
Posts: 2017
Member since: May 2009
why can't you pay by credit card when you are short on cash and avoid issues with the landlord? this gives you additional time to come up with $$$$.
the landlord is seeing the ability to get your apartment destabilized by doing major improvements and make a significant profit. he is now looking for excuses to have you removed. you are providing him a good one by paying late.
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Response by jason10006
about 13 years ago
Posts: 5257
Member since: Jan 2009
Or just get your shit together and pay the rent on time.
Chances are, your LL wants you and your kind out so s/he/they can do enough improvements to get the unit to market rents.
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It's a difficult question for most on this board to answer.
As most pay market rent, the late fee is more like 30 to 60 dollars, not 3 to 6 dollars.
The late fee is on your first lease, so had to be included in subsequent leases.
Using the landlord as a lender is risky. There're probably better options than paying 3-5% per month for money if you can't get your cash-flow act together.
Chronic late payment of rent can be grounds for a holdover eviction. As you've seen, the landlord is paving the way for that, with notices and threats. Each one is a mark against you when you're taken to court.
why can't you pay by credit card when you are short on cash and avoid issues with the landlord? this gives you additional time to come up with $$$$.
the landlord is seeing the ability to get your apartment destabilized by doing major improvements and make a significant profit. he is now looking for excuses to have you removed. you are providing him a good one by paying late.
Or just get your shit together and pay the rent on time.
Chances are, your LL wants you and your kind out so s/he/they can do enough improvements to get the unit to market rents.
what a bum.