Property Management
In Colorado, a tenant who pays rent late, causing the landlord to assess a late fee, is subject to:
AA. Any late fee amount the landlord chooses
BB. Late fees that are reasonable and specified in the lease agreement; Colorado allows late fees but they must be disclosed in the lease and must be reasonable✓ Correct
CC. Only the late fees specified by state law regardless of the lease
DD. No late fees unless the county permits them
Explanation
Colorado allows landlords to charge late fees if they are clearly specified in the written lease agreement. Late fees must be reasonable — Colorado courts may refuse to enforce excessive late fees as penalties. The fee structure (amount, grace period) should be clearly stated in the lease to be enforceable.
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