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Real Estate Leases
Real Estate Leases
Real Estate Leases
1.
Introduction to Real Estate Leases
2.
Tenancies and Real Estate Leases
3.
Security Deposits and Real Estate Leases
4.
Pet Deposits in a Real Estate Lease
5.
Rent Due Dates in Real Estate Leases
6.
Designating Where the Rent Will Be Paid in a Real Estate Lease
7.
Stating Late Charges in a Real Estate Lease
8.
Inspections and Checklists in a Real Estate Lease
9.
Sublease and Assignments in a Real Estate Lease
10.
Covering Utilities in a Real Estate Lease
11.
Establishing Rights & Obligations in a Real Estate Lease
12.
Arbitration to Resolve Real Estate Lease Disputes
7. Stating Late Charges in a Real Estate Lease
As a landlord, you may also want to establish policies for late rent payments. No matter how well you screen your applicants, the odds are at some time or another you'll be faced with a tenant who fails to make payments on time. The most effective policies specify a reasonable late fee. Explain that the late fee will be charged after a certain grace period following the rent due date.
The actual amount you can charge for a late fee varies by state. Some states require you to charge a flat rate for a late payment. Others allow you to charge a percentage, sometimes up to 15% of the monthly rental amount.
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