Late Fee for Renter's Default; Owner's Recovery of Costs and Expenses of Rent Collection and Lien Enforcement

1. Law
2. Indiana Code
3. Commercial Law
4. Warehouses
5. Self-Service Storage Facilities
6. Late Fee for Renter's Default; Owner's Recovery of Costs and Expenses of Rent Collection and Lien Enforcement

Sec. 11.5. (a) For each month a renter is in default under the rental agreement, an owner may impose and collect a late fee that does not exceed the greater of the following:

(1) Twenty dollars ($20).

(2) Twenty percent (20%) of the monthly rent.

(b) In addition to a late fee authorized under subsection (a), an owner may recover from a renter all reasonable costs and expenses of:

(1) rent collection; and

(2) lien enforcement;

incurred by the owner as a result of the renter's default.

As added by P.L.36-2018, SEC.2.

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