What's the law regarding later rent and late fees?
Question Details: My rent is $420 and if we don't pay on the first of the month my landlord will charge a $20 a day late fee starting the second of the month. I that reasonable? Also, my husband gets paid every 2 weeks. His emploryer cut almost $500 causing us to be late on rent when we got the money we owed an extra $100. His job won't cover and we offered $460, what we could afford. However, our landlord said if you don't have it all I won't take but then he said he would take it. The $100 would be added to next month's rent. Is that legal?
Whether or not the late fee charge is contractually allowed or illegal per statute in your state of residence depends upon what the presumed written lease agreement between you and the landlord states. As such, I strongly suggest that you carefully read the lease agreement on the topic of late charges in that its terms control the situation. If late charges are stated to be assessed if rent is not paid on the first of the month, then the $20.00 late charge seemingly is allowed and is valid.
