Legal Question in Business Law in Illinois

My father rents an apartment. He had the rent set up with his bank to debit and send on the first of each month. One month, the bank sent it but it arrived a day late because of posting time and the lease company charged him a late fee of $15. He had to sign up for auto debits with their company and is charged $1.50 per month so he doesnt risk a late fee again.. He lives in Illinois. How soon can a company charge a late fee in Illinois? Are they not required to allow at least 10 days grace period?


Asked on 12/22/13, 7:26 pm

1 Answer from Attorneys
Joseph Brabender Brabender & Chiang LLC

Look at your father's lease, it will determine when a late fee may be imposed. Illinois law does not provide for grace periods, at least not in landlord-tenant law. Some cities, such as Chicago, have late fee caps; however, the late fee your father was charged is modest.

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Answered on 12/22/13, 7:34 pm


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