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Late Fees

What is the maximum amount of  initial late fee allowed in Florida? Can additional late fees be charged daily?

This is very true about different states having limits.  I use to charge a late fee very similar to this until I found that in TN, I can only charge up to 10% of the rent amount.  Also, in most states, charging a late fee like this is illegal.  Last, in most states you have to give until the 5th day of the month for the rent to be paid, and it is late on the 6th day unless that day falls on a Sunday or holiday.  In cases like this, it will be the next business day.
This is legal in Texas, and there are no limits in Texas. This late fee structure was actually established by the template lease on this site, plus I've seen it used in leases I've signed in the past. It's a $50 base fee plus $25 for each day. Rent is due on or before the 1st. They get a 3 day grace period. So, if no payment is received on or before the 4th then fees start on the 5th: due on the 1st, 3 days of no fees, fees start after that. I've decided to modify this slightly when renewing: I'm going to cap the fees at $225. That equals 7 days of fees. I don't like the idea of a flat rate because they can simply become accustom to paying the fee and I don't want that. This way if you are late only a day, then the fees are not incredibly large, but if you're days late then you will feel it.  My current way (with no cap) can allow the fees to get too out of hand, for both them and I. Thank you  all!
$50 + $25 a day is confusing.  Does this mean it starts on the 2nd or the 5th?  And is the late fee $50 or $75?  Check your state laws to ensure you're not charging too much of a late fee; some states have limits.
I charge my tenants $50 late fee after the 3 day grace period.  They either pay or get a 3 Day Notice to Quit on the 4th Day.  If they don't pay within the following 3 days, they get a 60 day eviction notice.  No playing games.  Luckily haven't had to evict yet as they've paid so far.
There are no statutory limits on the amount a landlord may charge for a late fee. According to AZ Landlord Tenant law 33-361 - a tenant has a 5 day grace period. Most states do not permit a late charge to be a punitive charge or fee; but rather reasonably related to the costs incurred as a result of the late payment.
Hmmm... you really need to get everything in writing. Plus, if the tenant is unresponsive you arent off to a great start. If he hasnt paid the rent and has moved in, then I believe he is late on rent.
In my lease, I put $10/day determined by the date I receive the email notification that rent has been paid (Paypal, Venmo, etc) or upon the postmark on the envelope. That way there is argument as to the exact number of days late.
What good are late fees when you can't even collect the rent. Time to move on with this tenant. Cut your loses and serve them with a 3-day notice. I use a company to do this. The notice must be prepared properly. cost in CA is approx $30. This does not cover cost if you take them to Small Claims Court.
There are 2 ways to think about late fees, whether you want the fees as additional revenue, or to encourage your tenants to pay rent on time. All in all, many leases have a per day charge of around $5-$10
I don't know that Florida puts a limit on rental late fees, other than general provisions that the landlord not charge unreasonable fees.  Most states that DO limit late rent fees generally put the cap at 5-10% of the total rent amount. Best of luck!
Can I charge a basic fee after 5 days then add daily fees after 10 days late?
Yes, Denise is correct. However, also definitely check your state's tenant law as in many states you are not allowed to charge a late penalty payment unless it is explicitly stated in the rental contract in order to prevent LL from arbitrarily charging blind fees and amounts. If the late payment amounts are written into contract and the tenant signs, they are accepting their liability of terms. If it is not written in, they have not agreed to pay beyond their stated rental amount. As you are inquiring how much you can charge for  a unit that is already rented, I am assuming that you did not state in the contract a late amount??
The Florida Landlord Tenant Act does not address late charges or late fees charge by a landlord to a tenant for late rent. No limitations are put on the landlord in charging these amounts. A typical lease will have a specific amount due as a late fee/charge if rent is not paid by a specific date, usually the 5th of the month. a good rule of thumb to follow is "reasonable cost". This means a charge should be somewhat relevant to the costs incurred by the lalte payment.
The Libraries will send a courtesy notice before the item is due suggesting that you return or renew it, however, you are still responsible for any late fees or fines
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