Late Rent Question.

[Ryan Weirick]

What does everybody charge for late rent in Des Moines? According to home inc. the max you can charge is $10 a day up to $40 per month. That seems pretty low. When I lived in an apartment about 5 years ago, the day after it was due it was like $30 then $10 per day until it was paid.

[Chase Keller]

Hello @Ryan Weirick,

Iowa law is very specific on this issue.  For rent below $700, you can charge $12/day up to 5 days ($60 total). For rent above $700, you can charge $20/day up to 5 days ($100 total). 

I don't remember exactly what the consequences are, but you don't want to get caught charging more than that. 

Let me know if there's anything else I can help you with!