late fee for rent
My tenant is always late paying her rent. I want to charge a late fee for not paying on time. How would I go about this. I am startin a new contract.
1 Answer from Attorneys
Re: late fee for rent
There are a variety of standard lease forms including the greater boston real estate board that allows a late fee for paying the rent after the 10th of the month. The late fee should be reasonable as well, usually it is 2% of the base rent. If the tenant is a Section 8 tenant the rules are different.
Most real estate agents will give you their form as a courtesy.