As a landlord, can I rateably reduce the deposit for unpaid late fees?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
As a landlord, can I rateably reduce the deposit for unpaid late fees?
M tenants pay their rent late every month and I’d like to take the late fee out of the deposit. Is that allowed?
Asked on June 22, 2012 under Real Estate Law, New Mexico
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your presumed written lease agreement with your tenant does not state that you can debit the late fees the tenants accumulate from their deposit with you, you cannot do so.
I suggest that you simply invoice the tenant each month the late fee they accumulate and deal with any unpaid issues concerning such when they or you give notice of the termination of their tenancy.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.