Landlord Question and Answer Forum

Forum / Leasing Issues / Late Fees Chicago Association of Realtors
I saw this wordage in a sample lease from this organization. Can we state this in our lease? If not, what is the maximum amount we can charge for late fees in Chicago IL?
kenneth z, IL on Tuesday, November 5, 2019
RE: Late Fees Chicago Association of Realtors
Late Fee. The Monthly Rent shall be automatically increased $10, plus 5% of the amount by which the Monthly Rent exceeds $500, as additional rent, if received by Landlord after the 5th of the month for which it is due. This is the words that were in the lease
Posted by kenneth z, IL on Tuesday, November 5, 2019
RE: Late Fees Chicago Association of Realtors
My understanding is that this is the legal limit for Chicago.
Posted by John P, IL on Thursday, November 7, 2019
Return to the Leasing Issues Forum
Documents related to this forum

Residential Lease Agreement with eSign

Lead-Based Paint Disclosure & Certification

Security Deposit Receipt - Move In/Out Condition

Pest Control - Bed Bug Addendum

Highest Rated Discussions
Author: Wilfred C, NJ
Updated: 04/03/2019
Rating: Star0Star1Star2Star3Star4
Author: Michael W, CO
Updated: 04/03/2019
Rating: Star0Star1Star2Star3Star4
Author: ed t, FL
Updated: 04/03/2019
Rating: Star0Star1Star2Star3Star4
Author: Billy T, AZ
Updated: 04/03/2019
Rating: Star0Star1Star2Star3Star4
Author: K2 V, CA
Updated: 04/03/2019
Rating: Star0Star1Star2Star3Star4

The forum is completely free to anyone! If you wish to post a message, you must log in. If you are not registered already, Join today to create a free account!

Any comments and opinions that are expressed by the users of this forum are solely those of the authors, and have not been reviewed or approved by ezLandlordForms.

Satisfaction
Guaranteed

Money Back Guaranteed
Trusted by Over
300,000 Property
Managers, Realtors,
Attorneys, and Landlords
since 2006!
More Info
The ezLandlordForms team gives advice to first-time landlords on Designing Spaces!

Buzz About ezLandlordForms

Craigslist Logo  says:
"one stop shop for leases and forms"
— Christina Murphy, Founding Board Member
Fox Business Logo CBS Radio Logo msnbc Logo The Wall Street Journal - WSJ - Logo CNN Money Logo
Call us: 1-877-367-6771

We are available 7 days a week to answer your questions and to receive your feedback.

Carbon Free - CarbonFund.org website security ezLandlordForms, LLC BBB Business Review
ezLandlordForms products and services are reviewed and approved by attorneys, accountants, fellow landlords, or industry experts.
ezLandlordForms is not a law firm and our products and services are not a substitute for the advice of an attorney.
Copyright © 2006-2020, ezLandlordForms LLC. All Rights Reserved. | Privacy Policy | Terms & Conditions | ezLandlordForms Affiliate Program
Version: 1.380.0