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You are on tricky grounds with charging a bounced check fee because you do not have it in your agreement. BUT, because they costed you a bounce check charge by your bank, you can demand they pay that along with the late fee and the rent due. Make the change to your existing rental agreement to include a bounced check fee of $XX for future tenants. I charge $35.00 for that and if tenant bounces a check, they are done, they may never again pay with a personal check. Tenants first month and they already bounced a check on you? It's just a matter of time before you end up having to evict them. Also put in your agreement for future tenants, Following the section describing rent and late fee.
Method of Payments: Rent is to be paid with cash, money order, or cashiers check drawn at a local financial institution. After six (6) months, resident may pay with a personal check until the first check is dishonored and returned unpaid. Regardless of cause, no other additional payments may afterward be made by personal checks. If a check is dishonored, the resident will be notified and will be required to pay the rent in full plus late fees as well as a $XX bad check charge.
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