Is there a federal law that states in a residential rental lease that the lessor cannot impose a per diem late fee?
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Is there a federal law that states in a residential rental lease that the lessor cannot impose a per diem late fee?
That it must be a flat fee?
Asked on June 14, 2012 under Real Estate Law, Arkansas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Not that I am aware of. In fact, it is my understanding that HUD has a model lease that actually does impose a per diem late fee (realsonable of course like $1 a day). Many private llandlords impose them as well. Just remember that a lease is a contract and the terms can be negotiated. I would check local law on the matter with ana ttorney in your area. Good luck.
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