(1) A rental agreement must contain:
A notice stating that all articles stored under the terms of such agreement will be soldor otherwise disposed of if no payment has been received for a continuous thirty-day period; and
A provision directing the occupant to disclose any lienholders with an interest inproperty that is or will be stored in the self-service storage facility.
If a rental agreement limits the aggregate value of the property that may be stored inthe occupant's storage space, that limit is deemed to be the maximum value of the stored property.
A rental agreement may include a reasonable late fee for each month an occupantdoes not pay rent in full when due. A late fee of twenty dollars or twenty percent of the monthly rental amount, whichever is greater, for each late rental payment is reasonable and does not constitute a penalty. The owner shall not collect a late fee as part of the lien unless the amount of the late fee is stated in the rental agreement or in an addendum to the rental agreement.
Source: L. 2018: Entire section added, (HB 18-1117), ch. 68, p. 626, § 2, effective August 8.