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What should I charge for late fee in NYC,

What is amount I should charge for late fee in NYC?   Rent is $1850.00  monthly. Do I charge late fee after the first or on the third day? Do I charge addition late fee daily after the first late fee and how much? Thanks for your help with this.
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There is usually a grace period, though there are no regulations. I personally have a  day grace period and as for a late fee, it should be fair.  No higher than 50$ is necessary for it usually just brings on more frustration and debt to both parties involved.
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