Would this be legal?
Hello Guys,
I recently signed a lease/option contract w/a tenant. The contract states that all rents must be paid on time for the l/o, or it nullifies the entire contract. In my lease it states that the tenant must pay by the 1st, and it's late on the second. These people have poor credit, and I feel like I cannot take any chances.
My issue is this, according to the contract they must have the deposit for the lease option on the first of the month, or the contract is again nullfied. The first has come and gone and I have not accepted the funds yet. The reason being, I plan to evict on the basis of past rent being late. What happens if I accept the l/o deposit? Will this reactivate (so to speak) the signed contract, thereby making it unlawfu for me to evict. I don't want the money but my husband and I are debating this issue and I need input.
Thanks,
Phyllis 
Sheesh, I would hate to have you as a landlord! You're very harsh. . Ever considered daily late fees for late payments?
As a matter of fact, I have imposed late fees, but there are those that consider late fees minor league and pay them every month. Late fees are an incentive to pay on time and should not be part of the rent. I would much rather have their rent on time.
You're certainly entitiled to the opinion that I am harsh, but when you've been burned often enough, at some point you have to learn a lesson and protect yourself.
If I were in your position and considering eviction due to late pays,do not accept any money for a l/o.These people are obviously not good candidates.