percentage of the rent. How much per day after that? Thank you. --47.188.xx.xx

So mine is 5% of all funds not received by the end of the day after it's due. The tenant has incentive to minimize their penalty by doing as much of a partial payment as possible, in the event that something disrupts their normal payment schedule. --96.46.xxx.xx

You need to look up your state laws. My state has a limit per month on what I can charge. --173.26.xx.x

Mine is $25 on the 5th and $5 per day until paid. Max of $100. The lawyer suggested putting the cap on so a judge wouldn't throw it out (and they still may) if it got to court as unnecessary and gouging the tenant. They have their 3 day notice long before it hits $100 anyway. --98.175.xxx.xxx

I don't worry about what the judge thinks, as the late fees that go before a judge will get magically reduced before filing. --12.156.xxx.xx

We adjusted our grace period from the 6th being the first day late to the 2nd being late. Works wonders. --136.32.xxx.xxx

In Missouri, the law doesn't place any limits that I'm aware of. But in my court, the judges have agrees to cap it at $150...so I do $5 per day, max of 30 days. It's usually a non-issue because I file eviction fast enough to get them out in less than 30 days. The only time I max out a late fee is when court is backed up. My policy is I file on the 7th day after rent is unpaid and our court date is generally scheduled within 3 weeks. So 28 days ($140 late fees) is the most I typically see. --173.19.xx.xxx

State and local laws, here some just call it reasonable so visiting housing court for a few months before you open for business or have a lease printing party is one of the cheapest steps you can take to understand how the laws actually work. --76.188.xxx.xx

late fee schedule must be in the lease. there are no legal limitations in TX on what you can charge. However the TX judge will decide what is reasonable to collect if it gets to that point. TX law does enforce that the rent will be late after one day when it is due. I impose a late fee at 3 days. then I post 3 day pay or quit. rent & fee would need to be paid. If not then I can change the locks and seize their possessions (with some limitations e.g. I cannot take their tools of their trade). daily late fees of $10 have been rejected by TX judges bc LL could not show that was actual damages suffered. So best think to do is set a flat fee. The stick is late fees deducted first from any payment so if they paid the rent but not late fees then renter short on rent. Then again post 3 day. --104.218.xxx.xx

only one time I had to change locks. I got a big screen TV...35" which at that time was the biggest. a 30-30 rifle & 8mm pistol and a 100 gallon fish tank. A year later renter called me to ask if he paid could he get his fish tank back. I said yes & still have the rifle & pistol. 15 years in the business. he was the one who said he couldn't pay bc his grandmother died and he had to go to MI for the funeral. I posted the 3 day and changed the locks while he was at the cemetery. --104.218.xxx.xx

I dont do late fees - I do $50 pre-payment rent discount if receive on or before the 1st - I file on the 2nd if tenant hasn't communicated the rent situation. --24.34.xx.xxx

Stuart, please do not use your whole correct name on this very public site. Anyone can find you, for ANY purpose (many not good). Just find a nickname or 'handle.' --108.87.xx.xxx