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Get And Sign TO Fort Lee Rent Leveling Board RLB 23 309 Main Street Fortleenj 2005-2021 Form

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hey it's Clint with rent like a pro welcome back in this video we're gonna cover late fees or basically how to make them work for you when it comes to late fees rather you're using one of the forms we've provided something you found online or your own handwritten lease it should cover late fees and if a tenant ever pays rent late there should be a late fee enforced most of the problems and mistakes landlords make is in the enforcing of late fees I want to go over two of the most popular ways that landlords have late fees in their leases one a per day fee that goes up every day they're late so it's $5 a day so if it's due on the fifth and they pay on the tenth it's an extra 25 bucks and it just sits there and accumulates day after day the second one is a nice stiff upfront penalty so when you're late it's 10% or $100 it can be a percentage or a flat rate amount both of those techniques work let's talk pros and cons in a per day fee typically when you get to court and actually have to go

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