
pp25 wrote:Thanks JR8. What that basically means is based on the TA, the late fees are calculated at 10% per annum. Husband was late on 2 occasions - once by 30 odd days and another time by 20 odd days. That calculation leads to $75.
that's why I mentioned in my earlier post you should also put him on notice for interest at 10% for the money he owes you if he doesn't give it within x days. This should be reciprocal if he has taken late fees from you.pp25 wrote:Thanks JR8 and Scoobydoes!
The late fee is calculated on the amount unpaid calculated payable from the due date of payment. So the 10% would be on the $5K charged as rent per month.
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