Not a lawyer but am a landlord. Don't know particulars about Arkansas laws.
I do have a few suggestions on the subject though. Collecting late fees is profitable but very hard to do. What makes you think that you will collect the late fees when you are not getting the rent as agreed but thirty days late?
I have the same problem. I have in my lease a penalty of 10% per week panalty for being late. Never have collected but a pittance of late fees. Even included the late fees in my eviction and damage claims during litigation. The judges seem reluctant to issue late fees in a judgement. These late fees seems the ideal place for the judge to show leniency. Still seldom collect late fees.
I have been putting in the lease the rent due date as the 1st day of the month. I also state in the lease a grace period till the 6th of the month is allowed. I also state in the lease on the monday of the third week of being late eviction will be filed and continued till eviction is achieved and possesion of the apartment is mine. I have built a reputation of holding to that time line. The renters don't seem to even react and readily sign the lease as stated.
Since I have made the above changes, stating the time line, I have limited my losses, emotional drain, damages, etc. They cross the limitations agreed to they made that choice. I am much happier in my life. I really don't let anger build within me by staying with the time line stated. The renters acknowledge it and respect my stance. When the are late and past the 6th I go to their apartment and ask them if they are aware the filing date is the first Monday on the third week. They usually look at the ground and say yes. Many times you get your rent the Sunday before that third Monday. My experience tells me renters deal with limits in their life. You set those limits without a grace period and a definite filing date. This invites them to stretch to the limit, which seems to be the 30th day for you and believe me they no your limit!
In your currents renters status I would collect the next rent when they pay it, then tell them here is the new rules. Warn them you will give them the following two weeks to catch up 1/2 of the arrears and another two weeks to pay the next months rent, then another two weeks to catch up the second half of the arrears. STICK TO THAT TIME LINE!
Hope this helps
Wg
