Legal Question in Real Estate Law in Illinois

Rental Late Fees (property Management)

I work at a Real Estate Company. we just removed the ''grace'' period from our rental contracts. Rent is due on ''due date'' or $50.00 late fee. Due date is ''close of office on that date, 5:00pm''.


Asked on 12/07/07, 1:19 pm

2 Answers from Attorneys
Joseph Michelotti Michelotti & Associates, Ltd.

Re: Rental Late Fees (property Management)

Yes it you can change all new lases to have this provision. If there is no lease (month to month) then you must give them 30 days notice prior to the next month's rent being due.

For example if you gave notice today, the next month you could do this on would be February.

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www.michelottilaw.com

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Answered on 12/09/07, 4:43 pm

Re: Rental Late Fees (property Management)

Your question is ?

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Answered on 12/08/07, 10:24 pm


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