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Posted by dood on February 25, 2002 at 00:47:44:

In Reply to: late rent fees posted by Chris on February 24, 2002 at 13:39:31:

The usual late fee is about 5% anything over that is questionable as to wether a judge will allow it or not.

The landlord must give you by law a 5 day grace period, so he can charge a late fee on the 6th.

And of course the late fee MUST be stated in the lease, the landlord cannot make things up out of thin air.
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: I am a rent controlled tenant living in a building built in 1904 in Manhattan.
: My LL imposes a $50 fee for rent payments given after the 7th of the month. Is this amount legal?

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Comments:
:   The usual late fee is about 5% anything over that is questionable as to wether a judge will allow it or not.

:    The landlord must give you by law a 5 day grace period, so he can charge a late fee on the 6th.   

:     And of course the late fee MUST be stated in the lease, the landlord cannot make things up out of thin air.
: :
: :
: : I am a rent controlled tenant living in a building built in 1904 in Manhattan.
: : My LL imposes a $50 fee for  rent payments given after the 7th of the month. Is this amount legal?


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