 return check fee (by kirk [MD]) Jul 1, 2013 1:54 PM
 return check fee (by Pattyk [MO]) Jul 1, 2013 2:41 PM
return check fee (by Carolyn [MO]) Jul 1, 2013 3:40 PM
return check fee (by Kyle [IN]) Jul 1, 2013 6:28 PM
return check fee (by V [OH]) Jul 1, 2013 6:58 PM
return check fee (by Dana [MD]) Jul 1, 2013 9:07 PM
return check fee (by Nicole [PA]) Jul 2, 2013 7:31 AM
return check fee (by kirk [MD]) Posted on: Jul 1, 2013 1:54 PM
Message:
State Specific Question About: MARYLAND (MD)
what is the late fee i can charge for return check --69.140.xxx.xx |
return check fee (by Pattyk [MO]) Posted on: Jul 1, 2013 2:41 PM
Message:
what does your lease say? Usually I charge what the bank charged me,,, or what is written in my lease. --173.143.xx.xx |
return check fee (by Carolyn [MO]) Posted on: Jul 1, 2013 3:40 PM
Message:
There are two fees you should charge - a cfee for having a returned check, and then a late fee (assuming the rent wasn't paid on time because the check was returned).
Here are some clauses from my lease.
A check that is returned by the bank for any reason is deemed non-payment of rent and for the first occurrence an additional $30.00 charge is owed, collectible in the same manner as rent. For the second occurrence an additional $60.00 charge is owed, and for the third occurrence an additional $100.00 is owed, collectible in the same manner as rent. Checks returned by a bank also may cause rent to be paid late, in which case late charges also will apply. Owner may at her option require a money order or certified funds in lieu of personal checks or cash.
The right of the Owner to make a charge for late payment shall not be construed to be a grace period. Acceptance of late rental payments with or without any late charges from the Tenant shall not waive the Owner's right to timely payments in the future.
I never get to the third occurrence, as the tenant usually is voluntarily or involuntarily gone by then. --108.238.xxx.xxx |
return check fee (by Kyle [IN]) Posted on: Jul 1, 2013 6:28 PM
Message:
The answer to your question can be found in your lease and local laws. I charge $20 for a returned payment and $10/day late fee. --50.151.xxx.xxx |
return check fee (by V [OH]) Posted on: Jul 1, 2013 6:58 PM
Message:
In addition to the current charges I put the tenant on money orders for 3 months if it was a bank check, if this occurs in autumn I suggest 6 months prepay - hold me over the winter... --75.94.xxx.xxx |
return check fee (by Dana [MD]) Posted on: Jul 1, 2013 9:07 PM
Message:
In MD, you can only charge a 5% late fee on the rent amount. You can charge a return check fee, usually what you are out. Keep your bank records of the fees, if you end up in court. Make sure your lease addresses both issues separately. Late Fee is 5% of rent amount and returned check fee is $XXX. You should think about taking only money orders or certified bank checks. Both of which they need the cash to get. I only take mo's unless they have a 700 credit score (you know they pay their bills). I also have in the lease that if I accept a personal check and one ever bounces, they must start paying with money orders or bank check. --68.54.xxx.xx |
return check fee (by Nicole [PA]) Posted on: Jul 2, 2013 7:31 AM
Message:
V - maybe I don't understand what you mean. You ask for 6 months prepaid rent from people who have bounced a check, meaning they don't have any money? How do they come up with 6 months, when they can't come up with 1? --71.173.xxx.xxx |
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