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2017 SESSION

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SB 993 Lease agreements; late charge.

Introduced by: William M. Stanley, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Lease agreements; late charge. Caps the amount of the late charge that a lessor may impose for the failure of the lessee to make timely payment of any periodic rent due under a lease of real property in the Commonwealth at five percent of the amount of the periodic rent due under the lease. The measure requires the late charge to be specified in the lease or rental agreement. A payment is timely if it is made within seven calendar days of the due date.


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