Do you charge a late fee?

[Jon Schwartz]

LA landlords, do you charge a late fee?

I'm about to list my first rental in LA (the other half of the duplex I'm house-hacking), and I don't know whether to charge a fee for late rent.

If so, how much do you charge? Rent on this unit will be $4-5k.

Thanks!

[Account Closed]

@Jonathan Schwartz do yourself a favor and charge a daily late fee. Don’t just charge $50 or $100 flat..because every day matters.

I charge $50 on the 4th and $5 every day after that.

Doing so ensures they pay it quicker rather than later.