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View Full Version : Why do apartment complexes pay late?


Bunton Guy
01-10-2010, 09:00 PM
I'm not sure in your neck of the woods but 99% of the apartment complexes around here pay out 45-60+days.

Is there a reason for this? If their tenants pay on time (or they boot them out) why can't we treat them the same?

I don't maintain any now but have done several in the past.

I'm not sure if anyone has gotten to the root of why they pay this way.

green grass lawn care
01-10-2010, 10:33 PM
in the contract that you have them sign have a due date and late fees that should fix your problem.

rcslawncare
01-10-2010, 11:07 PM
I agree, how bout a payment due date in that contract?

1wezil
01-10-2010, 11:09 PM
:dancing::dancing::dancing:

Richard Martin
01-11-2010, 05:07 AM
It's hardly unusual in the business world to pay that way. A whole lot of businesses have to borrow money on a regular basis (monthly) to make payroll. Then when they get paid they pay off the loan. That's part of the reason why when credit contracts like it is doing right now it's so devastating to businesses. As long as I know the money is coming in in 45 or 60 days it doesn't bother me. It's when you're expecting it and it doesn't come in that it's a problem. You just have to budget for it.

I have a friend that is a LCO in MD. He has 1, 2 and sometimes 3 guys that he pays in cash. He drives me nuts every spring when business starts back up. He runs around freaking out saying he needs his money NOW from his customers so he can make payroll. This guy goes door to door weekly collecting from his customers like a paperboy. I sold him some of my customers when I moved from there and they ended up letting him go for stuff like that. They're monthly pay dude, stop bothering them every week!

bohiaa
01-11-2010, 08:20 AM
you should work for the government it's 90 days

mx315
01-11-2010, 10:02 AM
I've found that most of them only write checks on the 15th and 30th of each month, so if you mail a check out at the end of the month and it gets put off until the 15th of the next month you're looking at 45 days. All of mine get billed at the first of the month, so they have time to get it processed by the 15th. Most of my hotels are the same way too.

ALC-GregH
01-11-2010, 10:09 AM
I have a friend that is a LCO in MD. He has 1, 2 and sometimes 3 guys that he pays in cash. He drives me nuts every spring when business starts back up. He runs around freaking out saying he needs his money NOW from his customers so he can make payroll. This guy goes door to door weekly collecting from his customers like a paperboy. I sold him some of my customers when I moved from there and they ended up letting him go for stuff like that. They're monthly pay dude, stop bothering them every week!

That's too funny Richard. :D Where in Md did you live again? I think you mentioned it but can't remember.

Richard Martin
01-11-2010, 10:37 AM
That's too funny Richard. :D Where in Md did you live again? I think you mentioned it but can't remember.

Go here... http://sdatcert3.resiusa.org/UCC-Charter/DisplayEntity_b.aspx?EntityID=L08649402&EntityName=AM+LAWN+SERVICE++++++++++++++++++++++++++++++++++++++++++++&TabNum=3

bohiaa
01-11-2010, 03:20 PM
amazing how people know how to make money.
they just dont know how to manage it

MikeKle
01-11-2010, 03:44 PM
The ones I have all pay within about 12 days of sending out the bills. Always have, but they are privately owned, except for two and they even pay quickly too? Maybe you just are having bad luck?

LR3
01-12-2010, 12:17 AM
I bill on the 15th of every month and receive payment on or around the first of the following month.
Posted via Mobile Device

Bunton Guy
01-14-2010, 09:21 PM
It's not just me. Landscapers in my area complain about it on a regular basis that's why most of us smaller fish can't mess with them locally because of not being able to manage cash flow with large accounts that take big money to keep up but are slow to pay.

After all how do they pay their credit cards? The last couple apartment complexes I had made me sign their contract. And the one that signed mine refused to pay my reasonable late fees when the time came and they didn't pay.

My dad is in the furniture repair business and refuses to work for apartments now because of the same issue.

Greg78
01-14-2010, 09:37 PM
Got a couple that I bill on last Monday of the month and go into office Friday of same week and they have a check waiting. These aren't huge complexes though but we do quite a few for them.

PROCUT1
01-14-2010, 11:55 PM
They pay late if you let them pay late.

topsites
01-15-2010, 02:38 AM
Why do they do it, because it's just how it is, my guess.

MikeKle
01-15-2010, 08:22 AM
Im sure they pay all their other bills late too! Most large businesses do including apartment owners. And I assume since its not really an individual person, there is no credit report or score? I find it easier to just stay away from these unless you know they will pay on time. It is hard to budget your money when you have no idea when a large $2000. apartment mowing monthly payment will come in!

PROCUT1
01-15-2010, 09:45 AM
They dont pay their credit card, electric bill, bank loans, or any of that stuff late. Assuming they dont have money problems.

Scagguy
01-15-2010, 09:53 AM
They pay late if you let them pay late.

DING,DING,DING......We have a winner.

Scagguy
01-15-2010, 09:54 AM
Why do they do it, because it's just how it is, my guess.

PFTTT!!! We have a looser!!!