Property Management
A Pennsylvania property manager receives a late rent payment. If the lease has a late fee provision, the late fee must be:
AAt least 10% to be legally enforceable
BReasonable and as specified in the lease agreement✓ Correct
CApproved by PREC for residential properties
DEqual to one additional month's rent
Explanation
Pennsylvania late fees must be specified in the lease and be reasonable. Excessively punitive late fees may be challenged as penalty clauses unenforceable under Pennsylvania contract law.
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