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Re: NY late fees and grace period
by Anonymous
on February 3, 2010 @19:27
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I don't know where he got that from. I see nothing about a required grace period in NY state laws, nor do I see a limit on the amount of late fees. Check local ordinances to see if these are under those statutes. If no mandatory grace period is in the law and none is in the lease, you may charge late fees beginning on the 2nd. If this is the case, allowing until the 5th for a grace period is more than what is required. Normal late fees must be reasonable, which means between 5 and 10% of the rent owed. If your area if tenant friendly, stick closer to 5%. Whose lawyer was this, the tenant's?
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Re: NY late fees and grace period
by Anonymous
on February 4, 2010 @07:34
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No, this was my lawyers office. I've gone to the court house and asked for a copy of the local landlord laws and they handed me a book that was called Tenants Rights. Which was just a hard copy of the web site that I've visited.
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Re: NY late fees and grace period
by Anonymous
on February 4, 2010 @11:42
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Please ask him to provide that statute for you. I have searched real property laws, multiple dwelling laws, multiple residents laws, and general obligations law and find no such requirement for a 5 day grace period. Pay no attention to a tenant handbook. Those are normally written by tenant advocates and may not quote the actual law or even be accurate. Tell the attorney you need the statute number of the mandatory grace period for the state of NY. If there is an actual statute, he should know where it is found.
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