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Updated about 1 year ago on . Most recent reply

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2
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1
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Audrey Thomson
1
Votes |
2
Posts

Looking for advice on how to charge late fees.

Audrey Thomson
Posted

This is my first rental property (townhome - 3 units) and I am drafting rental agreements. For those of you with experience, what would be your recommendation on structuring late fees?  Should I do one flat fee? Or charge a daily fee? (In Texas there is a two day grace period after the rent is due, so if I charge rent on the 1st, I can start charging late fees on the 4th)  

Most Popular Reply

User Stats

235
Posts
255
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John Chong
  • Lender
  • Houston, TX
255
Votes |
235
Posts
John Chong
  • Lender
  • Houston, TX
Replied

Up to 12% of the monthly rent in TX 

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