Partial rent qustion in Durham, NC

[Andreas W.]

I have a tenant who paid only part of the rent in June, no word yet as to when I see the other half. Can I still charge 5% of the full rent for late fee or do I have to adjust fee to the portion that will be paid after the 5 day period?

[Garrett White]

Hey @Andreas W.

What does the lease agreement stipulate? I've added a very specific line in all of our leases saying 'Late fees are imposed against the FULL rent amount even in cases of partial rent payment from any source(s) - as payment of rent is due in FULL on the 1st of each month, and LATE after the 5th,
regardless of if that day falls on a weekend or holiday.'  Hope this helps!