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If you’re like most assisted site owners and managers, you probably charge late fees when residents don’t pay their rent on time. Charging late fees is a good way to avoid late rent payments and recover the administrative costs of dealing with them. But HUD has specific rules on how and when you can charge late fees to residents. Here are answers to questions you may have about charging late fees.
Grace Period
Q Do I have to give residents a grace period before I start charging late fees?
