This Briggs & Stratton home generator provides reliable This Briggs & Stratton home generator provides reliable backup power for homeowners during a power outage. This generator makes sure your appliances stay on so you and your family arenât left in the dark.
Percentage late fee: A percentage late fee is calculated as a percentage of the rent payment and ranges from 4 to 8 percent of the monthly rental rate. The customary late fee percentage for late rent payments is either 5 or 6 percent, but be aware that some states have legal limits on late charges expressed as a percentage of the rent.
Daily Late Fees. The beauty of charging a daily late fee in addition to a one-time fee is that once the tenant incurs the initial fee, there is still financial motivation to deliver the money as soon as possible. Personally, I charge a $20 daily fee, starting on the 2nd late day and every day thereafter, until rent is paid in full. This ensures that the tenant will continue to attempt to pay rent quickly, even if it is officially late. When you use a one-time fee and a daily late fee together, it really provides incentive for the tenant to pay rent on time.