Are there limits on how much a landlord can charge for late fees?

In South Carolina, landlords are allowed to charge late fees, but there are limits imposed. Late fees cannot exceed 5% of the total monthly rental amount or $25, whichever is greater. For example, if the monthly rental rate is $800, the landlord can charge a maximum of $40 for a late fee. It is important to note that the landlord must have a late fee clause in the rental agreement in order to be able to charge a late fee. This clause should include the amount the landlord can charge for a late fee and the terms of the late fee. If the landlord does not have the late fee clause in the rental agreement, then they cannot charge a late fee. It is also important to note that landlords cannot charge late fees until after the rental payment is overdue. In other words, late fees cannot be charged until the tenant has failed to pay the rent on or before the due date. Finally, landlords are not allowed to include late fees in the rent amount or require tenants to pay them before the tenant is allowed to move in. In other words, late fees must be paid separately from the rent amount. In summary, South Carolina has limits on how much a landlord can charge for late fees. However, the landlord must have a late fee clause in the rental agreement and they cannot charge the fee until after the rent is overdue. Additionally, the late fees must be paid separately from the rent amount.

Related FAQs

What is the difference between a lease and a rental agreement?
What happens in the event of a breach of the lease agreement?
What are the rights of a tenant when it comes to terminating a lease?
What is the difference between a commercial and a residential lease?
What happens if a tenant fails to pay rent?
Are landlords required to provide written notices to a tenant if the terms of the lease are changed?
What are the landlord's responsibilities when it comes to providing proper notice of termination?
Are there laws that protect a tenant from discrimination?
Can a landlord evict a tenant without cause?
Are there laws that protect tenants from retaliatory eviction?

Are there limits on how much a landlord can charge for late fees?

Related FAQs

Related Blog Posts