Calculating late fees.

[Wendy S.]

Hi All

If your rent is due by 3pm on the first with a daily late fee of say $10, how exactly is this calculated?

Would $10 be due on the 1st after 3pm, $20 on the second or $10 on the 2nd assuming 24 hours?

[Tim Herman]

@Wendy S. My interpretation is the late fee cannot be imposed until 24 hours after the due date. So no late fee until the second after 3 pm. You can pay for a lawyer and see what they say. Like @Nathan Gesner I use a one time fee. If you are confused about your interpretation of the late fee how are you going to justify it in front of a judge. Simpler is better.