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Old 11-08-2010, 04:35 PM
 
17 posts, read 77,068 times
Reputation: 19

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My rent is due on the 1st of the month, with a grace period until the 3rd of the month.

I wrote the check on the 3rd and put it in my landlord's mailbox that day. It wasn't until the 8th that I noticed the check had not cleared and finally realized the check had bounced.

The lease agreement states that I will be responsible for a $25 returned check fee, plus any late fees owed. The late fee provision is $10/day starting from the 1st day the rent is due up to when the rent is actually credited to the landlord's bank account.

As I'm reviewing my lease agreement to figure out how much I owe up until today, the 8th, I notice that although I agreed to the late fee provision, it also limits the late fee to up to 6% of the actual rent. Basically, the landlord had hand-written the "$10/day" provision, even though the contract also stated not to exceed 6% of the actual rent.

So, am I legally bound by the $10/day rule, or the 6% rule?
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Old 11-08-2010, 07:26 PM
 
Location: Los Angeles
8,551 posts, read 10,973,619 times
Reputation: 10798
The late fee you agreed to is $10.00 a day, and by the 6% limit, that is exactly what it is, a ten dollar a day late fee which will only go up to the limit of 6% of the rent.
I charge a late fee of twenty five dollars, and ten dollars a day up to 10% of the rent, which in my case would be a one hundred dollar limit in any month.
Bob.
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