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late fee

Posted by anonymous on November 07, 2001 at 19:38:24:

The LL put a note on our door today notifying us of our rent increase. Contained in the letter was her policy on late fees. She stated that if the rent was not received by the 5th of the month, she would impose a late fee of $20 a day.
I don't know how much is too much, but is this a little excessive? or is it just me? I live in the Bay Area, California.
Any info is greatly appreciated! thanks

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