I own three mobile home parks in Southern Missouri and N W Arkansas. I typically have a few stragglers for paying rent each month. I give them until the 5th then a $40 late fee kicks in, then another $40 after the 15th.
After labor day weekend this year I have seen a huge increase in the amount of renters who can not pay their rent on time. I have evicted several and replaced them with tenants that have met my criteria for financial status. This month I have had literally 1/2 half of the tenants either pay late or have not paid their rent yet, including the new renters.
Everyone tells me this is an effect of the economy right now i.e. gas prices, interest rates, etc. Has anyone else experienced this???