Re: Tenant late or bouncing checks - Landlord Forum thread 348420

Re: Tenant late or bouncing checks by Katiekate (New York) on September 15, 2016 @19:05

I have a $25 charge to post a notice of late rent.
I charge 10% for late charge (after day 3)
I charge $100 for a bounced check...and from that time forward tenant must pay in CASH only

I have found that tenants rarely pay late after one time having to pony up the extra $25 plus 10%

I have had tenant challenge this in court, and had it upheld by judges. When I was charging $10 per day for late fee..judge threw that out. But, 10% is the going rate at all the large apartment complexes, so it is nothing new.

Just be sure you enforce it.n send letters demanding it..then deduct it first from the rent, and send a demand letter for the rest of the rent,

Oh..and sure your lease is very specific about the amounts and the order in which payments are applied...fee first, then rent,

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Re: Tenant late or bouncing checks by Anonymous on September 15, 2016 @19:55	[ Reply ]

WOW! that's great! I use the LPA lease with a few tweaks for local court practices which allow no more than $3 per day late fee. I'm going to change my lease right now. No more Mr. Nice Guy! :) thank you

Re: Tenant late or bouncing checks by Garry on September 15, 2016 @21:49	[ Reply ]

Always keep in mind that all state's laws are different. You can put anything you want to in your lease, and hopefully you can buffalo your tenants into paying larger late fees. But remember, if you ever get challenged in court over them, whatever your state laws says about the late fees will prevail. And it could even cost you in other ways in court. If the tenant portrays you as a greedy LL, or a LL who thumbs their nose at the state's LL/T laws, you could end up paying the T back their full deposit, and maybe even their attorney costs. Always read, know, and follow your own state's LL/T laws, and their eviction laws.

Re: Tenant late or bouncing checks by J (FL) on September 16, 2016 @07:03	[ Reply ]

That's similar to what I do. I was told a daily fee was more likely to be struck down by the courts so I have a flat late fee.