All Forum Posts by: Misty White

There is a late fee and NSF fee in the lease agreement...

The lease states the following:

IX. NON-SUFFICIENT FUNDS . If the Tenant pays the Rent that is not honored due to insufficient funds (NSF): (check one)

☐ - There shall be a fee of $[NSF FEE] per incident.

☐ - There shall be no fee.

X. LATE FEE. If Rent is not paid on the Due Date: (check one)

☐ - There shall be a penalty of $[LATE FEE] due as ☐ One (1) Time Payment ☐ Every Day Rent is Late. Rent is considered late when it has not been paid within [#] day(s) after the Due Date.

☐ - There shall be No Late Fee if Rent is late.

Hello, my tenant paid his rent on the 4th. He has a 5 day grace period before he is charged late fee. On the Rent Redi app, it states a ACH Return has been posted due to insufficient funds. 

As a landlord, do I charge ACH return fee and late fee or just ACH return fee? What is standard practice? Thank you for your help!!