How to Identify Lates Fees and Where to Get Help
According to rental expert Pat Kopas, you should ask about every late fee or additional charge before you sign a rental contract. “In fact," says Kopas, “some fees can be negotiated. Ask about waiving fees or combining monthly fees into one monthly rental payment."
Apartment rental competition is high in most areas so some companies are willing to combine fees or allow extra time for monthly payments if you speak to the manager. When you do find an apartment you like and the contract lists many fees, ask the manager to waive, combine or lower fees. “The best monthly contract," says Kopas, “is the one where your monthly payment combines everything, including pet, utilities, parking, and community fees." In this instance, if you are late, because fees are combined, you may only have to pay one late fee instead of numerous fees for each item.
If you want to decipher typical late fees on apartment rentals, before you sign a contract, seek advice from your state, especially if you think outlined fees are excessive. Every state in the US monitors landlord/tenant laws and have a consumer division within state offices or through their Attorney General’s office.