How much to charge for rent late fee?
I just got nailed by the Judge for, as he called it, "egregious late fees"! I only charge one amount for late fees, $50. I use it as a deterrent to lead the tenant to paying on time. The rent is $600 and the late fee is a one-time $50.
I have seen late fees of $5 per day by some Landlords! Missouri doesn't have a law regulating late fees. How much do you think is reasonable and what do you charge?