General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago,
Renting my SFH per BR & utilities are split. When/What fee can I charge if unpaid?
Hi BP community! I am renting out my single family home I currently
reside in per bedroom. I currently have 2 tenants who are college grads
at the local colleges. Their parents are cosigners and pay their
rent+utilities. They typically always pay on time but recently the
parent didn't pay their portion of the utilities until the following
month. This normally wouldn't be a big deal but it was an oil delivery
& it was frustrating worrying about whether it would be paid. In the
lease it states that utilities are split equally among tenants &
myself.
My question is how long are tenants allowed to have
before I'm able (if I'm able) to charge a late fee? How much of a late
fee am I allowed to charge?
Thank you everyone for your input :)