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Re: LPA Lease Late Fee Clause - Landlord Forum thread 357854

Re: LPA Lease Late Fee Clause by Jack Klein (NY) on June 24, 2018 @23:50

                              
The late fee is enforceable as long as it is written in your lease.
You send them a late notice with late fee due after they've gone past the late date.


>Is it better to start with new tenants?

If you have bad tenants, it is always better to start with new tenants.

>Is there a limit to how much I can charge?

Yes. Even states with no limit are limited by what a judge decides if it is ever challenged. Check your state limits at https://www.thelpa.com/lpa/forms/state-lease.html

>What date should I make the late fee due?

I make the fee due if rent is not paid by the 5th of the month.
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