A late fee is an extra charge a landlord may add when rent isn’t paid on time. It’s meant to encourage on-time payment and offset the cost of chasing a late balance, and it’s typically defined in the lease alongside the due date and any grace period.
Whether late fees are allowed at all, how they can be calculated (a flat amount versus a percentage), any maximum, and any required grace period are set by state and sometimes local law, and they differ widely. Rules vary by state and locality — check your local law; this is general education, not legal advice.
This is general educational information, not legal or tax advice. Rules vary by state and locality and change over time — check your local law and confirm specifics with a qualified professional.