Tardy rent happens with many people and when it does it can be stressful for all parties. The property managers must process additional paperwork while keeping records of tardiness. The family who hopes to one day move may not get a good reference from the current landlord. Future managers don't like to lease their properties to individuals who are often late with rent.
So keep this in mind the next time you want to splurge a little, do you have your rent?