Everything You Need To Know About Late Rent Fees

One of the worst things that landlords have to deal with is an irresponsible tenant. Although tenants agree to a set of terms in the lease agreement, they do not always comply with them throughout their lease.

A very common thing that landlords must deal with is a tenant who does not pay rent on time. Paying rent is the most essential part of renting out a unit because it is what allows a tenant to remain on the property. When rent isn't paid on time, or at all, the landlord or property manager must find a way to deal with it. And the way that most choose to deal with it is by charging late rent fees. These late fees are governed by local landlord-tenant laws but are mostly governed solely by the landlord.

0:00 Welcome!
0:45 What are late rent fees?
1:28 Should landlords charge late rent fees
2:01 A grace period
2:38 How much to charge as a late rent fee
3:01 Percentage fee method
3:35 Flat fee method
4:11 Daily method
5:00 How to enforce late fees
5:29 Including the late fee policy in the lease
6:00 Providing reminders
6:30 Conclusion

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Disclaimer: This video was produced by DoorLoop and is the intellectual property of DoorLoop. The creator featured in this video is an employee of DoorLoop. All information presented in this video is subject to change and may have changed since the time of filming. These videos are for educational and entertainment purposes and are not offering legal advice. Opinions expressed in our videos do not reflect DoorLoop's stance as a company.

Category: Property Management

[iamhermonica]

What if the late fees are not included in the lease?

[Yoduh]

So in the past i had a landlord that did 50$ a late fee and i was in a bad spot in life but i was late to rent and rent was 1200$ and they gave me another month but 50$ a day so a late 50$ 30 days is 1500$ so they wanted me to pay 2700$ in 6 days i wondering is that legal or naw and on the paper it said 25$ a day and not 50 $ a day also but is this all legal or should i have done something

[VirmanaMarketing]

definitely don't want to pay my rent late 🙂

[korykrulik]

im new to renting an apartment. have a full time job and am expected to pay $1600/mo living paycheck to paycheck with only the first 4 days of the month to pay on time. After that its a $70 late fee than if you pay at the very end of the month they threaten you with eviction only 24hrs and they take all your possessions and charge you $200 in legal fees. does this seem like a Satanic trap to anyone else. There is homeless people all over the place and now I know where they are coming from.