Who is entitled to the late fee?
We rented out our house for three years, using the services of a local property manager. It wasn't disclosed to us until near the end of the lease that the tenant was late 25 times, and no late fee was ever collected. (late enough to warrant a late fee). The property manager did not have to pursue the tenant to collect the rent.... it just arrived late.
Our lease agreement included a late fee and time structure, clearly spelled out, if the payment was received (from the tenant) late. Our contract with the property manager did not indicate who is entitled to the late fee if it is collected.
In retrospect, had the late fee been collected, who would have been entitled? the homeowner? or the property manager?
We may soon be pursuing this in court, so your responses are appreciated.