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When a tenant is late on rent, it's important to address the issue promptly. Keith Weinhold, host of the Get Rich Education podcast, emphasizes a zero-tolerance policy for late payments. First, you should post your state's legal notice that details the past due rent and necessary actions for the tenant to rectify the situation. Additionally, informal communication can be beneficial. There’s a specific seven-word sentence you should use when addressing the late payment with the tenant to help ensure timely payment in the future. Clear communication and prompt action are key to maintaining regular rental payments.