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Re: Late fees
by Bryan (Ia)
on August 28, 2015 @00:58
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Be careful with this statement. Some states, such as mine, do not cover late fees in the LL/T laws but have them buried in their banking laws. In Iowa, according to that law, rental late fees cannot exceed $40/month.
Fortunately, the one time I had to enforce my late fees (which exceed those allowed) the magistrate wasn't thinking of banking laws and allowed my fees.
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Re: Late fees
by Garry (Iowa)
on August 28, 2015 @17:44
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Bryan, I think your current info on late fees for Iowa LLs are out of date. The current ones that went into effect 2 years ago are : $12/day, to a max of $60/mo. for any rents of $700 or less, and $20/day to a max of $100/mo. on rents above $700. But I have no idea what code section they are in.
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Re: Late fees
by Garry (Iowa)
on August 28, 2015 @20:20
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Bryan, I found the code section.------Section 535.2(7), Code of Iowa It started on 7/1/2013
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