When is it time to chase rent payments?
Rent is classed as being late if it has not been paid the day after the due date.
If a tenant has failed to pay rent by the close of business time on the due date, then they have fallen into arrears. Same applies if a tenant has not paid the full amount of rent due by this time.
If a trustworthy tenant has informed you that they will be late on the payment, then be flexible and allow some additional time where possible.
At Portfolio Letting Experts, we are able to guarantee that your tenants pay rent on time. Don’t believe us? Get in touch to find out. Call us on 01202 082023 for a chat!