Re: Consistently late and sick of it - Landlord Forum thread 346844

Re: Consistently late and sick of it by Garry (Iowa) on July 28, 2016 @07:54

Does your state LL/T laws address the amount of late fees you can charge? $3 seems awfully low in this day and age. Other than yours, I have never heard of any late fees around the country being less than $10/day. Many seem to be $15-$25, usually with a cap of $100/month. You should check it out with an attorney who knows LL/T laws.

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Re: Consistently late and sick of it by Anonymous on July 28, 2016 @17:45	[ Reply ]

In the local courts, that is all they will enforce.

Re: Consistently late and sick of it by Garry (Iowa) on July 28, 2016 @20:01	[ Reply ]

It's not really about what the courts will enforce. It's about what your state legislature has put in your LL/T laws for a maximum per day. We in Iowa have a max of $12/day-$60/month on rent amounts of $700 or below. And $20/day-$100/month on all rents above $700. We can charge the T those fees as long as we collect them in the month (or the following month)that the T was late. BUT----we cannot put down ANY late fee amounts when we file for non-pay of rent in the court system. If we put down even $1 for a late fee, in addition to the actual rent, we automatically lose. So, again, is there anything in your actual LL/T laws that state what you can charge for late fees?

Re: Consistently late and sick of it by Anonymous on July 28, 2016 @19:25	[ Reply ]

Judges will throw out late fees that are deemed to be excessive or punitive. Late fees are to cover the landlord's cost of a late payment, they are not meant to be punitive. Daily fees are punitive and are often not held up in court.