Legal Question in Landlord & Tenant Law in Illinois
Grace period for paying rent
Is it illegal to charge tenants a sizeable fee for being one day late with rent? Is there not a short 3-5 day grace period, normally? I know apartment complexes and even renting from a bank who owns property, have a grace period. In the state of Illinois is a landlord required to give a short but reasonable grace period before impending extra charges on his tenants?
2 Answers from Attorneys
Re: Grace period for paying rent
Is it illegal to charge tenants a sizeable fee for being one day late with rent? It is not illegal, however, there are some circumstances where the fee will be unreasonable and can be argued to a court. Is there not a short 3-5 day grace period, normally? Sometimes landlords allow that but there is no requirement. That is why you agree to a rental date so that there is no confusion over when it is due.
Re: Grace period for paying rent
The amount a landlord can charge for a late fee is dependednt upon at least a couple of things. First, the town in which you live may have an ordinance that limits the amounts that can be charged for late fees. Second, even if there is no ordinance limiting the late fee, you may still be able to convince a court that the late fee is too high and is "unconscionable."
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