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Updated over 3 years ago on . Most recent reply

Jeffery Drayton's profile image
Jeffery Drayton's profile image
Jeffery Drayton
  • Rental Property Investor
  • from Chicago, IL
  • Member since Aug 18, 2019
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20
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7
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Jeffery Drayton's profile image
Jeffery Drayton's profile image
Jeffery Drayton
  • Rental Property Investor
  • from Chicago, IL
  • Member since Aug 18, 2019
Connect
Jeffery Drayton
  • Rental Property Investor
  • Chicago, IL
7
Votes |
20
Posts
General Real Estate Investing

Section 8 late rent fees

Jeffery Drayton
  • Rental Property Investor
  • Chicago, IL
Posted

I have selected a section tenant to live in my SFH in illinois "not Chicago". I will be receiving $1362 total a month. The tenant is responsible for paying $414 & section will pay the remaining $948.

My question is….do I base my late fee amount on the tenants portion of $414 only??..or do I base it on the total amount of $1362?

What are the legal rules behind this, as far as the maximum amount I can charge in Illinois?

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