Bryan C.research the Applicable Federal Rate (APR) 

I would take your emotions out of it and explain that she has a choice; she either pays the late fee and all is good, or she doesn't pay it, assuming your lease is written this way, she will be considered behind on rent for the month, late charges will due for the next month, and so on, and at some point you will file an eviction for unpaid rent, and once eviction paperwork is filed with the county, other landlords will see that when they screen and most likely deny her rental application.

We have been mostly cash buyers but with a twist, we also have a 10k Business Line of Credit and an 18k Visa card.  

THESE “NON-EXCHANGE EXPENSES” INCLUDE: Mortgage points and assumption fees Credit reports Lender’s title insurance Prorated mortgage insurance Loan fees and loan application fees OTHER “NON-EXCHANGE EXPENSES” CAN INCLUDE: Property taxes Utility charges Association fees Hazard insurance Credits for lease deposits Prepaid rents and security deposits These rough guidelines do not address every potential cost.

Plan on having your application returned for revisions 2 or 3 times, it usually took us a minimum of 6 months work to get finally get into the public hearing queue.

I have our written rental criteria and applications available at the time of viewing.

My only concern is that they denied to sign on the lease as a guarantor and said that they will give me Payment Commitment letter, not sure what exactly it means.also, I ran credit-background on applicants and their credit is not so good so just wanted to make sure I am not getting into any complications....in your case, did they sign as guarantor or how did you make sure that you will get paid on time??? 

I received access to my Appfolio account, so I can see my building account, the applicants, status of all of that, etc. 

Bottom line, might ask your attorney, I suggest that no one gets the idea of reselling utilities for a profit off of forums based on someone doing so or their idea of what laws may be applicable. :)     

Construction projects, which have a finite beginning and end, are a good application.