How much can a landlord charge for late rent?

In South Carolina, a landlord is allowed to charge a late fee for rent payments that are not received by the due date. The amount of the fee is determined by the lease agreement and cannot exceed the lesser of five percent of the rent due or $15. However, the landlord is not allowed to charge a late fee unless the amount is listed in the lease. Additionally, the landlord must give the tenant notice of the late fee before the fee can be charged. Generally, this notice must occur before the tenant is five days past due on the rent payment. The landlord also has the right to terminate the lease if the rent is not paid by the due date. This termination must be done by providing the tenant with a written notice that specifies the rent due, when it is due, and the consequences if the rent is not paid within the specified timeframe. In conclusion, landlords in South Carolina can charge a late fee for rent payments received after the due date, as long as it is detailed in the lease and such fee does not exceed the lesser of five percent of the rent due or $15. If the rent is not paid by the due date, the landlord can also terminate the lease by providing the tenant with written notice.

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How much can a landlord charge for late rent?

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