No landlord may charge a tenant late fees that are not reasonable late fees. If a rental agreement includes a provision that authorizes the landlord to assess the tenant a fee for late payment of the monthly rent, to be considered "reasonable late fees" the total amount of that late payment fee for any month may not exceed the larger of: (i) twenty-five dollars ($25.00); or (ii) five percent (5%) of the monthly contract rent. This section shall only be applicable to rental agreements entered into after the effective date of this section.
(Ord. 81-2023. Passed 6-27-23.)