Late Charges - Landlord Forum thread

Late Charges by Paul on November 13, 2009 @19:14

I rent a mobile home for $550.00 per month. What would be a basic late charge and a fair late charge after the stated 4/5 day period?

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Re: Late Charges by Anonymous on November 13, 2009 @20:09	[ Reply ]
Anything less than 10% of the monthly rent.

Re: Late Charges by Anonymous on November 13, 2009 @20:50	[ Reply ]
Some states have a law about the amount. Some may require a grace period.

Re: Late Charges by Anonymous (WI) on November 19, 2009 @14:43	[ Reply ]
I think a $25.00 late fee after the grace period would be fair. We do a $25.00 late fee if rent comes after the 3rd of each month and $1.00 each day it is late after that.