Klass Law Group

Colorado's Premier Landlord-Only Law Firm

Blog

RSS Feed

April's Legal Tidbit

Posted on

Can I charge late fees?

Answer: Yes, if it is in your signed lease agreement. However, per day late fees will not usually be enforced by the courts. A one-time late fee to compensate the landlord for the extra handling required when rent in not paid on time is fine. Per day late fees are viewed by the court as either a finance charge (which will exceed the maximum interest rate permitted by Colorado law on consumer obligations) or a penalty (which is never enforceable under a private contract).

We are happy to answer your questions; no charge! (303) 758-0500.

2109 S. Wadsworth Blvd | Suite 202 | Lakewood, CO 80227
Phone: (303) 758-0500 | Fax: (303) 969-0501

© Klass Law Group   |  All Rights Reserved  |  Privacy Policy  |  Powered by 2140 Interactive