415.417. Late fee assessed, when, amount--recovery of expenses, when.

MISSOURI STATUTES AND CODES

415.417. Late fee assessed, when, amount--recovery of expenses, when.

Late fee assessed, when, amount--recovery of expenses, when.

415.417. 1. For the purposes of this section, "late fee" means a feeor charge assessed by an operator for an occupant's failure to pay rentwhen due. A late fee is not interest on a debt, nor is a late fee areasonable expense which the operator may incur in the course of collectingunpaid rent in enforcing his or her lien rights pursuant to sections415.400 to 415.430, or enforcing any other remedy provided by statute orcontract.

2. Any late fee charged by the operator shall be stated in the rentalagreement. No late fee shall be collected unless it is written in therental agreement or an addendum to such agreement.

3. An operator may impose a reasonable late fee for each month anoccupant does not pay rent when due.

4. A late fee of twenty dollars or twenty percent of the monthlyrental amount, whichever is greater, for each late rental payment shall bedeemed reasonable, and shall not constitute a penalty.

5. An operator may set a late fee other than that permitted insubsection 4 of this section if such fee is reasonable. The operator shallhave the burden of proof that a higher late fee is reasonable.

6. The operator may recover all reasonable rent collection and lienenforcement expenses from the occupant in addition to any late feesincurred.