Late Fee Regulations

Late fee regulations limit the amount and frequency of fees that landlords can charge tenants for late rent payments. These regulations vary by state but typically:

1. Cap late fees at a certain percentage of the monthly rent (e.g., 5-10%) or a fixed dollar amount.
2. Require a grace period (e.g., 3-5 days) before late fees can be assessed.
3. Prohibit landlords from charging late fees on top of other fees or penalties.
4. Allow tenants to contest late fees that are excessive or unreasonable.

Landlords must disclose their late fee policies in the lease agreement and cannot charge late fees that exceed the legal limits or are not specified in the lease.