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Re: Late Fee -How much do you charge?
by M-bone
on March 25, 2009 @14:20
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For starters, do not give any grace period. My late fees are $50.00 - $75.00 and $100.00 depending on the rent amount. It's approx. 10%. Late fees apply the minute rent is late, no exceptions. I do not charge daily late fees. If rent is one day past due without a phone call from the tenant explaining it, I will post a 3 day notice on their door the day after rent is due if I have not heard from them. I charge a fee for this, either $50.00 or $75.00 depending on how far I must drive to give them the notice, this is in my lease. If tenant calls to say they will be late, I want a date and time when they will deliver it in person - rent mailed late is not permitted. I will only allow a few days usually not more than 5 days before I give a 3 day notice if they can't pay their rent by then. I make this all VERY clear to all my tenants up front when signing the lease, so they know that I run a tight ship, and there is no room for them to try to manipulate me later on.
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Re: Late Fee -How much do you charge?
by Roshunda Murphy (Texas)
on April 4, 2014 @13:46
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I am a tenant and my rent payment is $650 but my initial late fee charge is $100 for the first late day, which is apparently more than 10% of my rent. Is this legal for my landlord to charge more than 10% of my regular rental payment?
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