Are there laws that protect a tenant from excessive late fees?

In Colorado, tenants are protected from excessive late fees by state laws. Colorado has statutes that regulate when late fees can be charged and how much they can be. Late fees must be reasonable and not be exorbitant or punitive in nature. Generally, tenants may be assessed a late fee if rent remains unpaid for five days or more past the rent due date. However, the landlord must provide written notice to the tenant that a late fee will be charged if they do not pay rent by a certain date. The landlord must also provide this notice in the lease. The amount of the late fee must also be reasonable. Under Colorado law, a tenant cannot be charged more than $30.00 for the first late fee and $5.00 for each additional day that rent remains unpaid, up to a maximum of $75.00. Additionally, the late fee must not be used to punish the tenant. It should cover the costs associated with collecting late payments and any other damages caused by the delinquency. If the landlord attempts to charge an excessive fee, the tenant may be able to recover the amount of the fee in court. It is important for tenants in Colorado to know their rights and to make sure they understand and abide by the terms of the lease. By familiarizing themselves with state leasing laws, tenants can ensure that they will not be charged excessive late fees.

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Are there laws that protect a tenant from excessive late fees?

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