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July 11, 2007

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Kathy Morris

I agree the deliquent rent payers have a negative impact on the performance of a property. The choice to not renew a contract with a late payer, may not be the only answer.
Consider charging late pay deposit at time of renewal for those late payers that want to renew.

Someone

Fire the customer.
Ok, my thoughts on late payer and the lack of taking advantage of the non-renew opportunity.

The reality is people have different priorities. Some pay late on their bills each month, some consistently overdraw their accounts each month, and some people pay their mortgage or rent religiously each month on the 1st with a detailed note attached to describe it to you.

That being said, in all reality do we remove a resident that pays rent late but also gains us revenue on late fee and filing fees each month? They maintain our occupancy and if you move one out, you will inevitably move another one in. We do not live in a perfect world and we never will. There are some battles that are not worth fighting.

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