I usually put down $25 after the 5th, and an additional $5 for each day thereafter

I recently put down $25 after the 5th, and an additional $25 after the 10th

Some people love to pay the late fees. There were 5 families who always paid late. Last year, we raised ours from $25 to $50. Four of those ontinue to pay late. Cha ching!!!

I follow my local and state tenant laws, 1 place 5 percent, across the street another city 10 percent, another place allows 50 a day till paid off - I have never carried into the next month but the wording would allow this. Rent is late when not paid on or before the first of the month by 5PM. We accept account payments but they are applied to damages before rent, bill for current damages in the next rent cycle.

Vee - our leases say due by the 1st, late on the 5th (we go by Postmark date), and the fee goes on their account on the 6th. We give 'em a Pay Rent or Quit on the 10th (Indiana law) and file after the 10 days are up. Usually the 10 Day PRorQ gets their attention; if not, they they get to pay the Court Costs on top of the late fees. When we do get money from the late payers, it goes toward late fees, any other charges, and then the rent. If we have to file, it is because technically, they are behind on the rent and the judge will throw them out.

I typically do 10% or "high enough to be within reason" and depending on the # of people on the lease. By that I mean that if their rent is $500 and there were two people on the lease - I would charge AT LEAST $60 because that is what it would cost me to serve them the Pay or Quit notice.

I "allow" a 4 day grace period (due on the 1st, late on the 5th).

Yes that means that if there is a $1,000 rent I charge $100 late fee.

NC, my lease states rent is due on or BEFORE the due date, and that there is no grace period. It then states a late fee of 5% will be charged if not paid by the 5th day, however acceptance of the late fee does not prevent landlord from filing for summary ejectment for breach of lease for failing to pay rent when due. I also have a notice waiver in there.

George,

Gotta know YOUR judge and Check YOUR state laws)

$5 per day starting the day it’s late. That’s my judge’s max. Daily rate encourages promptness. A one time fee encourages “why bother”.

$50 NSF fee.

Must be written in the lease to hold up in court.

Me? I learned that a grace period promoted and increased late payments. The ANYTIME attitude also spilled over into casually following other rules.

I used to brag how we paid for college for 3 kids on just late fees. (True) But then I added up how much RENT we lost when we finally evicted those late payers and was astonished at the money we lost. Yes the lates fees were fun but they lulled us into lost rent.

ZERO TOLERANCE on lates works. They pay. It’s that simple.

We make more money and have less stress by HAVING our rent in hand on time.

We use autodraft - we reach into their bank and TAKE the rent rather than HOPING they will pay us or paying the postmark game.

Mail is the worst way to recieve rent. Loss of control and lost mail. Court can make you wait if the res says “Check’s in the mail’”.

If the fee is too high my court will throw out the entire fee.

More than you asked but I got on a roll!

WMH:There is nothing in your lease that goes against NC laws. Our lease also states that rent is due BY the first and late on the 2nd. I always explain to tenants that just because we cannot legally charge them before day 6 does not mean that their rent is on time if pid after the first.

As for accepting a late fee and still evicting. You are allowed to collect or not when filing an eviction. Just remember that if you accept the rent in full it makes the eviction null and void unless you are evicting for reasons other than back rent.

Rent due on the 25th of the preceding month, on time if I get it by the 1st.

$20 late fee on the 2nd and $6 for each additional day late. It adds up fast!!

due on the first late on the second. 6% of the rent. hta's a lot on rent over $2000 which most of mine are