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Essentially, the law now provides for two depending on the type of rental asset landlord options to impose late fees. Additional questions we have recently received are on the totaling of an initial late fee with any daily additional late fee assessments. There is one additional important change coming in September as a result of SB The previous law allowed a landlord to impose a late fee after one full day following the date rent was due.
The new law changes this timing to two full days.