Can an owner of an apartment complex charge interest if a tenant has not played his rent on time?

Asked by Trulia Austin, Austin, TX Mon Feb 4, 2013

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Claire McIntyre’s answer
Claire McInt…, Agent, Austin, TX
Tue Feb 5, 2013
There can be late fees. It should be stated in the lease. Typically there is an initial late fee and then additional daily late fees amounts after that. If you think you are being treated unfairly or if you just have a question about your lease contact the Austin Tenants Council: http://www.housing-rights.org

Claire McIntyre, Architect / Real Estate Broker / Builder
512 699 9912
MMI McIntyre Associates
Real Estate Brokerage
http://www.mmirealestate.com
claire@mmirealestate.com
McIntyre & McIntyre Inc
Architecture / Engineering
Project Management
http://www.mmibuildings.com
0 votes
The Coopers, Agent, Austin, TX
Tue Feb 5, 2013
Usually there are late fees, but it all needs to be detailed in your lease agreement with them. Usually there is a one time late fee after a certain number of days, then an additional late fee for each day after that where the rent goes unpaid.
0 votes
Ronald Culli…, Agent, Austin, TX
Mon Feb 4, 2013
It entirely depends on the lease you signed when you moved in. Read your lease to find out. Generally, most leases charge an initial late fee after a certain number of days of delinquency, usually three to five. On top of that, they charge a daily fee for each day the rent is late, which you could call "interest" if you wish. In any event, the controlling document is your lease and it should spell out the specifics of delinquency penalties.

Ron Cullinan
Avalar Austin
GRI, CRS, ABR, CLHMS, e-Pro
512-799-3239
austin_realtor@earthlink.net
http://www.austinonlinehomes.com
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more