Section 6028 - Penalties for late payment of rentA landlord may assess a penalty against a residential tenant for late payment of rent for a residential dwelling unit according to this section. [1987, c. 605(AMD).]
1.Late payment. A payment of rent is late if it is not made within 15 days from the time the payment is due. [1987, c. 215(NEW).]
2.Maximum penalty. A landlord may not assess a penalty for the late payment of rent which exceeds 4% of the amount due for one month. [1987, c. 215(NEW).]
3.Notice in writing. A landlord may not assess a penalty for the late payment of rent unless the landlord gave the tenant written notice at the time they entered into the rental agreement that a penalty, up to 4% of one month's rent, may be charged for the late payment of rent. [1987, c. 215(NEW).]
1987, c. 215, (NEW) . 1987, c. 605, (AMD) .