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Late Fees

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  • Late Fees

    Do you plan to waive late fees at this time or in the coming weeks?
    We'll evaluate on a case-by-case basis
    Amy Campbell
    Inside Self-Storage
    [email protected]


  • #2
    Yes, but I'm not offering it, they have to ask. We are OK to waive 2 late fees OR 1 late fee and 1 Pre-Lien fee for now. Usually our managers aren't allowed to waive any fees so this is a big step for our employer to make. I have had 2 complaints so far of not being able to pay next month bc their hours were cut due to store closures, and they were both happy to hear we would not charge them the fees or auction their things FOR NOW. I strongly reiterated the point FOR NOW, don't want them getting comfortable with the idea they don't have to pay us at all.
    You Laugh, I laugh. You cry, I cry. You take my coffee...may God have mercy on your soul....


    • #3
      I have seen here where some facilities sent out a letter ADVERTISING that late fees would be credited back for at least April and some may have even said more months than that. WHY? Case by case basis seems best to me but I know I do things different than others here. Believe me, after being in Vietnam, I know a thing or two about all "pulling together" and doing "the right thing". We already deal with entitled nin-com-poops as it is. This advertising no late fees is one that will be hard to shut down later, especially with people that thrive off of instant gratification. My letter sent out to my tenants, via email, did not even mention late fees. I will deal with that as it comes, again, on a case by case basis. Even though I have not had an auction in 3 years, I can still see me extending out a lien process for an extra month if it comes to that or whatever the law is or change to.
      "Never let the inmates run the asylum!"


      • #4
        Our company is still taking it day to day to figure out how we want to move foward. I'm with pacnwstorage , personally I think if you "advertise" that you aren't gonna have late fee's you will have everyone taking advantage of it.


        • #5
          I have enough that are habitually late that I would just waive them (or stop them) across the board. Those that get them every single month will still get them unless they can really convince me otherwise. Others that are not typically late, I will evaluate.

          This morning I had my first move-out scheduled "because of these uncertain financial times." It'll be interesting to see if he's isolated or if many more will do the same.


          • #6
            I did hear, from my maint man who still works part time at my old facility, that they had a move out from a tenant that was moving back home with family because of what is going on. The self storage boom that was because of the poor economy may come back or be different altogether as to how this virus effects people that will have to move back with family or friends. I feel pretty bad for any new owners that are building. I could be wrong though.
            "Never let the inmates run the asylum!"


            • #7
              I am taking late fee's on a case by case, but like other's, not going to advertise that fact. I will not auction anyone during this time either, but again, not to going to advertise that. Has everyone notified tenants about changes in hours or any changes they are implementing during this? I'm thinking I need to send out something but I'm not sure what to put in it. We are not on lockdown as of now, so far, we haven't had to make any changes.
              "I don't understand your specific kind of crazy but I do admire your total commitment to it!"


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