Posted by chelsea on February 24, 2002 at 21:39:14:
In Reply to: Re: late rent fees posted by consigliere on February 24, 2002 at 14:54:12:
When you say the courts generally don't allow late fees of more than 4 or 5 percent, do you mean for rent-regulated apartments or all apartments? I've heard that late fees aren't legal for rent-stabilized apartments, even if in the lease, because the RSL and RSC only allow legal regulated rent, period. But I haven't had any direct experience on this point, so I'm not sure.
: If your apartment is rent controlled, and not rent stabilized, neither you nor the landlord probably has a copy of a lease. Therefore, the landlord can't prove that there is a provision for late fees.
: If there is a lease, does it have a provision for late fees? If so, what is it? The courts generally will not allow a late fee of more than 4% or 5%.
: : I am a rent controlled tenant living in a building built in 1904 in Manhattan.
: : My LL imposes a $50 fee for rent payments given after the 7th of the month. Is this amount legal?
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