Late fees for a Triplex

[Anthony Freeman]

What is a decent late fee for a three unit property? ($725 for rent)

[Anthony Freeman]

Quote from @Ned Carey:

@Anthony Freeman That seems like a pretty high late fee. What price range were the rental units that had a late for af $100?

One hundred dollars late fee for $2500 rent may be reasonable but $100 for a $750 rent seems high. You have to weigh in part what the tenant can actually afford and what the market allows. Charging a $100 late fee that you never collect doesn't do you much good. 

I would be interested in what other say. Maybe I should be raising my late fees. 

 I had a similar reaction when I was first made aware of this late fee. I agree, you can charge whatever you legally are allowed to but that does not mean you will actually collect it. I do not remember the price range but thanks for the help.