What happens if the rent payment is late?
It depends on your lease, and state but typically there is a late fee usually not allowed to be more than 5% of the monthly rent. This is usually assessed on the 5th of the month. In NC you can evict a tenant for being more than 15 days late otherwise a late fee is typically the worst thing you’ll have to deal with.
You will be charged a processing/service fee of $50 after the 3rd, increasing to $100 after the 5th. If the rent is not paid within 5 days after receiving the 5 day notice of past due rent, action will be taken to ask the court to serve papers for formal eviction. These additional costs will also be charged to the tenant.
