Legal Question in Real Estate Law in Florida
tenant lease particular
On my one years apartment leases to my tenants I have a clause that stipulates: LESSEE ACKNOWLEDGES THAT THE RENT IS DUE ON OR BEFORE __________ OF EACH AND EVERY MONTH AND IF NOT PAID ON TIME SO AS TO BE RECEIVED BY LESSOR WITHIN THREE (3) DAYS AFTER DUE DATE, LESSEE AGREES TO PAY TO LESSOR A 5% LATE CHARGE AS ADDITIONAL RENT. the flaw here with this ''penalty'' is that some tenants are perfectly willing to incure the added 5% in order to ''buy'' substantial extra rent pay time knowing that there is no further monitary risk in so doing. Of course - at a certain point I can (and do) file the time consuming action through the courts for eviction, but - and my question is - after the 5% fee is imposed would I be on any shakey legal grounds if I were to add a stipulated accumulating Late Fee beginning AFTER the initial 5% After 3-Day Fee, basis of, for instance, $5.00 additional penalty per day for every day thereafter until the total rent + accumulated penalties due are paid in full - WOULD I BE WITHIN MY LEGAL (STATE OR OTHERWISE)RIGHTS IN SO DOING or perhaps your office might have a more appropriate format. Your guidence here with this ongoing problem would be most appreciated.
2 Answers from Attorneys
Re: tenant lease particular
You cannot unilterally alter the terms of the lease. If the late charge is 5% of the upaid amount, then that's all your entitled to collect when the rent is paid late unless there are other provisions in the lease that allow you to collect additional sums. The lease may also allow you to immediately file an action for possession and damages after the 3 day grace period, and to collect pre-judgment interest, late fees, court costs and attorneys' fees, but without first reading the entire lease, I cannot say for certain. Read your entire lease. If you are interested in modifying it for future tenants, feel free to give me a call as we are experienced in preparing lease agreements.
Re: tenant lease particular
Retain counsel. Spring for a consultation.
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