Rent late fee

[Marc Dufour]

I have a rental in CA. My contract says there is $100 per day for late fee and the rent is $2900 per month. I am not sure legally I can charge $100 per day in CA? The tenants are 7 days late, (including 2 days during weekend). Can I ask for $500 then? Can I just say I will decide later, whether I take some of the security deposit (those $500)? Is there a grace period in CA for tenants who pay late?