Lease Terms for Late Fee & Dog Deposit

3 Replies

Helping a friend finalize a lease in northern Atlanta burbs. Assuming that GA has a standard boiler plate lease, what would normal market terms be for:

1) When is rent due, when is rent late & what is the penalty for late rent?  $'s per day, a fine or both?

2) Small dog.  One time non-refundable fee?  Higher rent per month?

Thanks in advance!

You'll find that it varies quite a bit from company to company. Here's what we do:

1. Rent is due on the 1st, late if not paid by the end of the day on the 2nd, and late fee is 10% of the rent amount. Daily fees can be problematic with some judges, so we stick to just one late fee charged all at once.

2. We charge a $100 one-time fee and a monthly pet fee that varies based upon our screening of the dog. That fees varies anywhere from $25-$75/mo.

There is not a standard boiler plate lease in GA. Every lease is different and I would recommend having a lease that protects your rights as a property owner. Also you may want to consult with a property manager or attorney to ensure your lease is comprehensive. You may also want to review the Georgia Landlord Tenant Handbook provided by the state to ensure your lease does not violate any laws and you are managing the property properly.

I am an investor and property manager. My rent is due on the 1st, not the first Friday, not the first time they think about it, the 1st of every month. A late fee is assessed on the 2nd of the month and a 3 day notice is posted. My late fee is 10% of the rent amount. You want to ensure your late fee is not too small otherwise tenants will prioritize paying other bills on time over your rent. 

Pet deposits are variable. On my personal rentals I charge a $400 refundable pet deposit. I like to do refundable pet deposits to give the tenant incentive to take care of the property and ensure it is cleaned up upon move out so they get the deposit back. I have heard of others charging a pet fee that is non-refundable.