HOW MUCH ARE LATE FEES AND WHEN DO THEY BEGIN? - Late fees start on the third (3rd) of the month. On the third you are charged $50.00. After that, the late fee is increased $10.00 per day until a payment is accepted. Being late is never a good thing. Not only is it expensive, but you may be in a position to buy a home later and having lates on your rental record isn't going to help you secure a loan.

Here is the excerpt from the Lease Agreement as it pertains to Late Fees:

LATE
LESSEE shall pay a charge of fifty ($50.00) dollars plus ten ($10.00) dollars for each day after two (2) days that rent is late. A charge of thirty-five ($35.00) dollars, plus the corresponding late fee will be charged for each dishonored check made by the LESSEE to the LESSOR. LESSEE agrees to pay all rents, all late fees, all notice fees, all outstanding charges, and all court costs upon honoring a returned check with cash or Certified funds. After the LESSEE has tendered a check which is dishonored, LESSEE hereby agrees to pay all remaining payments due under this Agreement by cash or Certified funds. Any payments tendered to LESSOR thereafter, which are not in the form of cash or Certified funds, shall be treated as if LESSEE failed to make said payment until cash or Certified funds are received. LESSEE shall pay all rental payments by cash or Certified funds thereafter. LESSOR presumes that the LESSEE is aware of the criminal sanctions and penalties for issuance of a check which the LESSEE knows is drawn upon insufficient funds and which is tendered for the purpose of committing a fraud upon the creditor. All late fees, service fees, and charges shall be due and payable when billed and after thirty (30) days shall become a part of the rents due.

**This clause is subject to change without notice. Be sure and read your lease agreement and understand it in its entirety.

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