Understanding Tenant Rights: Maximum Late Fee in Illinois

If you are a renter, it's important to know your rights and responsibilities regarding late rent payments. In many states, including Illinois, landlords are allowed to charge a reasonable late fee if a tenant fails to pay rent on time. Here are the rules for late fees under the Illinois state law:

1. A landlord may charge a reasonable late fee after waiting at least five days after the rent is due.
2. A landlord cannot charge a late fee unless the lease or a lease addendum specifies the amount of the fee and the conditions for imposing the fee. This means that the landlord must include these details in writing before collecting any late fees.
3. If a tenant fails to pay rent, the landlord can charge a late fee of $20 or 20% of the rent, whichever is higher.
4. Lastly, if a landlord incurs any reasonable expenses while collecting rent or enforcing a lien, those expenses can be charged to the tenant in addition to the late fees allowed by the law. However, the landlord must provide the tenant with an itemized list of any such expenses.

What is the maximum late fee the landlord can charge?

The landlord can charge a late fee of $20 or 20% of the rent, whichever is higher. That means that the landlord can charge 20% of the monthly rent unless the rent is $100/month.