Is there a federal law that states in a residential rental lease that the lessor cannot impose a per diem late fee?

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Is there a federal law that states in a residential rental lease that the lessor cannot impose a per diem late fee?

That it must be a flat fee?

Asked on June 14, 2012 under Real Estate Law, Arkansas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Not that I am aware of.  In fact, it is my understanding that HUD has a model lease that actually does impose a per diem late fee (realsonable of course like $1 a day).  Many private llandlords impose them as well.  Just remember that a lease is a contract and the terms can be negotiated.  I would check local law on the matter with ana ttorney in your area.  Good luck. 


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