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<p class="MsoNormal">Good afternoon,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The thread referenced below contains a link to a memo on usury and late fees however I cannot open the link (it looks to be an attachment to an email but at the time it was sent I was not on the listserv). Is it possible to get a copy
of the email and the attachment? Thank you.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>Arthur J. Menor</b> <a href="mailto:landten%40lists.flabarrpptl.org?Subject=Re%3A%20%5BRPPTL%20LandTen%5D%20residential%20lease%20late%20fees&In-Reply-To=%3C28539BB7F912B54CA8689D83ED6C07B1034AAD3059%40SBEXMAIL-07.shuttslaw.sb%3E" title="[RPPTL LandTen] residential lease late fees">
AMenor at shutts.com </a><br>
<i>Sun Jan 22 10:41:45 PST 2012</i> <o:p></o:p></p>
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<pre>Please see the attached contents of my personal form file on the issues of enforceability of late fee provisions in leases. It looks like the usury argument probably does not apply to a late fee in a lease but the late fee must meet the standards for a valid liquidated damages clause. In my personal opinion, a daily late fee or a late fee of 10% of the amount of the late payment is vulnerable to the argument that it is an unenforceable penalty rather than an enforceable liquidated damages provision.<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>From: <a href="http://mailman.fsr.com/mailman/listinfo/landten">landten-bounces at lists.flabarrpptl.org</a> [mailto:<a href="http://mailman.fsr.com/mailman/listinfo/landten">landten-bounces at lists.flabarrpptl.org</a>] On Behalf Of Greg Hass<o:p></o:p></pre>
<pre>Sent: Wednesday, January 11, 2012 1:32 PM<o:p></o:p></pre>
<pre>To: RPPTL Landlord Tenant Committee<o:p></o:p></pre>
<pre>Subject: [RPPTL LandTen] residential lease late fees<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>Our FAR "Residential Lease for Single Family Home or Duplex" has a Section 6 dealing with late fees. It has blanks to be filled in for both the amount of the late fee and the number of days after rent is due that it becomes "late". If left blank, the default setting is 4% of the rent payment for each rent payment made 5 days after the rent is due if paid monthly.<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>I'm curious to hear what the committee members thoughts are as to what the maximum the late fee can be before it is deemed unconscionably high/usury by a judge and rendered unenforceable - has anyone seen any cases on this?<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>Thanks,<o:p></o:p></pre>
<pre>Greg<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>Greg Hass, Senior Counsel<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>Office of Law & Policy | FloridaRealtors(r)<o:p></o:p></pre>
<pre>7025 Augusta National Drive, Orlando, FL 32822<o:p></o:p></pre>
<pre>talk: 407.438.1400, ext. 2421<o:p></o:p></pre>
<pre>visit: <a href="http://www.floridarealtors.org">http://www.floridarealtors.org</a><o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>The Voice for Real Estate(r) in Florida<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
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<pre><span style="background:yellow;mso-highlight:yellow">From: "Jack C. McElroy" <<a href="http://mailman.fsr.com/mailman/listinfo/landten">JMcElroy at shutts.com</a>><o:p></o:p></span></pre>
<pre><span style="background:yellow;mso-highlight:yellow">Subject: Usury - Leases and Late Fees<o:p></o:p></span></pre>
<pre><span style="background:yellow;mso-highlight:yellow">Date: Wed, 5 May 2010 14:19:55 -0400<o:p></o:p></span></pre>
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