Late fee 10 percent of rent ?

[Marci Stein]

About to rent out my newly purchased house. 

Want to a dad a late fee to the lease . I’ve read some charge 10 percent of rent , plus 10 per every day late . 

Seems high . Is that typical? 

What’s your late fee policy , if any ? 

Thanks!

[Eugene Kemp]

You need to read the laws for your state and follow those if it is stipulated.