Co-op Handbook
Maintenance (and Rent) Payments and Late Fees
Maintenance is due on or before the first day of each month. (If you rent a co-op-owned apartment, then your rent is also due on or before the first day of the month.) Maintenance (and rent for co-op-owned apartments) may be delivered by mail to the management company’s lockbox. Make your check payable to “Nagle Apartments Corp.” and send it to Blue Woods Management Group, Inc., G.P.O. Box 9316, New York, New York 10087-9316. Don’t forget to write your account number on the check, include the payment stub, and make sure the address shows through the envelope window.
A late fee of $20 may be assessed if your full maintenance (or rent) payment is not received and credited by the 14th day of the month. If you do not pay your maintenance (or rent) on time, you will receive notices from the managing agent. The managing agent will be happy to meet or speak with you by phone to discuss and resolve the problem. If you do not pay your maintenance (or rent) for two months, and do not meet with the managing agent to resolve the problem, eviction proceedings will be initiated (see Evictions).
Reader Comments
Posted by David Benson, 11 Jan 2003 at 2:03 AM: I live in a Southern California apartment. One of the owner’s family members comes by either the 1st or 2nd of each month to collect the rent. I usually put my check in the door to be picked up. This month, Jan. 2003, I forgot to put my check in the door on the 1st and 2nd, and maybe the 3rd. I have left my check in the door every day since, but it had not yet been picked up. Finally, this evening, which is Jan. 11th, the check was picked up. A note was left stating that I owed a 50 dollar late fee. I wrote a note back stating that this is a case of shared negligence. I am leaving what I consider a fair compromise of 25 dollars. I cannot find the original contract, but I would like to know if the landlords are within their legal rights to charge this fee. I received no warning or notification this would happen. Thanks, Angry Dave
Posted by Eduardo Gomez, 11 Jan 2003 at 11:38 AM: Dear Mr. Benson: In the case or our co-op here in New York, maintenance (rent) is due on the first day of the month. We do have a grace period until the 14th of the month — which is more generous than most other places — during which time there is no late charge. However, if the maintenance is not received by the 14th of the month, we do have a policy of charging a late fee of $20, which is spelled out clearly in this handbook. If I remember correctly from my days as a renter, in rental situations such as yours, the grace period is usually 5 days — rent must be received by the 5th of the month. Your lease document most likely has a clause to this effect, including how much the late fee is. If you signed the lease, then the landlord is well within their rights to charge the late fee, since the lease is a contract and has the force of law. If you were to take your case to court, the judge would decide in favor of the landlord, since there’s a legal document to support the late fee.
Posted by Melinda Guzman, 16 Jun 2003 at 8:18 PM: I need to know what is the maximum amount of money a landlord can charge for a late fee on past due rent? Also, is the late payment grace period up to the landlord to decide? What is the usual grace period?
Posted by Webmaster, 17 Jun 2003 at 12:34 AM: There is no hard-and-fast limit for late fees, however, they do have to be “reasonable” to be allowed by the courts. “Reasonable” fees are generally fall at around 5% of the rent, but the courts usually do not allow fees greater than 10% of the rent. The late fee generally appears in the lease signed by tenants. I believe the standard grace period is 5 days, and, yes, it is up to the landlord to decide what the grace period is (usually also appears in the lease). You might want to ask your question in the Tenant.net discussion board. Provide more details about your situation, and I’m sure someone there will give you a better answer. You can also do a keyword search for “late fees” to see what’s been said about the topic before.
Co-op Handbook powered by Movable Type 2.661
