05/28/2026
We analyzed 1.5 million rent payments.
The best late fee is the one you never charge.
76% of landlords with a policy never charged it.
Rent still showed up, 97% on time.
The policy is the deterrent. Not the fee.
10 years. 50 states. The numbers:
1. A policy lifts on-time rent from 89% to 91%
2. Sweet spot: 2โ5% of rent
3. Median fee: just $75
4. At scale (51โ200 units): +6.2 points
Stop asking "should I charge a late fee?" Start asking "do I have one in writing?"
Set it once. Let it work.
Read the blog ๐
https://bit.ly/4uBYOF0