In Ontario rent is considered late as of midnight on the day the landlord and tenant have set it to be paid. Most landlords/owners will set payment date on the first of each month (assuming you and the renters are on a monthly basis). So, rent is late, now what can be done? As a property manager We have a process in place, part of which calls for an automatic reminder to be sent out. Sometimes, a payment may be late simply because the tenant hasn't realized it's the first of the month. This can be escpecially true around the holiday season.
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AuthorGlenn Brown is owner of My Rental Unit property management and has enjoyed success with multiple unit investing. TOpics
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February 2016
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