First time landlord, 6 months into taking the keys (live in landlord--4plex and I live in one unit and rent the other 3), I have my first tenant who is late on rent.
She texted me this afternoon saying she won't be able to pay until Monday or Tuesday.
For reference, when we signed the lease she asked if there was a grace period on late rent, and I said no, and that it would be $25 late fee for each day late.
Any advice on how to handle this?
As well as any Alameda County specific advice? I've been told by many that it's not a landlord friendly county so I don't want to do anything I'll regret.
Investor · Marin County California · Member since 2018 · 1k+ posts · 2k+ votes
5y
California Civil Code section 1671 controls the amount of late fees you can charge. Doing a $25 daily fee could run you into some trouble unless you set some kind of maximum. It's easier to justify an amount (e.g. $50) or a percentage of rent (e.g. 5%).