Late Fee Policy

How aggressive is your late payment penalty?

Opinions vary on this subject. In my practice I have learned to keep the late fees relatively low.

Let me explain. I do NOT any make exceptions for anyone. That said, one thing I know for sure I won’t be in trouble with the Fair Housing laws treating people differently.

Now, with the no exception policy I do not want to put myself in a position to evict a good tenant just because he/she fell behind one month and the late fees are so hefty that cannot afford to pay. I keep the late fees low enough to “sting” a bit, just like your mortgage late fee, but nonetheless affordable. For those repetitive offenders, my lease has a provision for eviction.

I provide the tenants many ways to pay. They include:

  • postal mail
  • drop off by the front desk and obtain a receipt
  • the drop off box outside of the building
  • and for those last minute payments online through my website


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