QUESTION
How is Colorado late fees for rent calculated....each day late til full rent is collected from tenant or a one time fee?
Asked on Jan 05th, 2014 on Residential Real Estate - Colorado
More details to this question:
I hav tenants who are renting my home now and they have fell behind on rent for 2-3 months at a time. They are notfaithful payers on time. Which they hav cost me thousands of dollars to keep my home payment current. I need to know legal how do I charge late fees that will violate colorado renting laws for landlords.
1 ANSWER
3 Awards
Your question is almost entirely dependant upon the terms of your lease. I see leases which only allow for a small one time late fee and others that allow for a large initial late fee in addition to significant daily late fees. Both are legal unless usury.
Good luck,
Don Eby
Answered on Jan 05th, 2014 at 4:14 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.