Calculate the exact late fee owed based on days late, grace period, and your lease's fee terms.
Most leases charge a late fee once rent is a set number of days past due (the grace period). After that, the fee is typically structured one of three ways: a flat one-time charge, a percentage of the monthly rent, or a daily charge that accrues for each day the rent remains unpaid, sometimes capped at a maximum amount.
Check the lease for the exact terms and grace period before charging a fee. Many states also cap how much a landlord can charge in late fees or require the fee to be "reasonable" relative to actual damages — verify your state and local rules before applying one.
LeaseLoop tracks rent due dates, payments, and late fees automatically for every property you manage.
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