Late Rent Policy
Paying your rent late happens, sometimes you forget, and then there's the unfortunate event of having to wait for a deposit to hit your bank account before submitting a monthly payment. While we understand that these things happen, our late policy stands regardless of the circumstances. When signing your initial lease for your home, you signed a page that agrees to our late policy and that policy is that if we do not actually receive a rent payment in the full amount at the designated place of payment by the 2nd day of each month at 11:59 PM, the tenant will pay the landlord for each late payment:
- An initial late charge of $100.00 starting at 12:00 AM (midnight) on the 3rd day of each month
- Additional late charges of $15.00 a day per day thereafter until the rent and late charges are paid in full. Additional late charges for any one payment may not exceed more than 30 days.