IPNTA Newsletters

July 2004

Late Fees

Before IPN exited the Mitchell-Lama program, the former landlord allowed tenants to take up to ten days after the first of the month to pay rent. Many, if not most, tenants assumed that this policy would continue under the new owner.

Unfortunately, that is not the case. The new owner has decided to narrow that grace period to five days. If a tenant pays rent later than that, the landlord has the legal right to add a surcharge to the bill. If you have a legitimate reason for not paying within five days, explain that to the office and suggest the option of working out a separate arrangement.

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