Late fee rules · Virginia

Virginia late fee rules

A late charge must be in the written rental agreement and can't exceed the lesser of 10% of the periodic rent or 10% of the remaining balance owed. The lesser-of rule matters on partial payments: rent $1,500 with $1,200 already paid means the max fee is $30 (10% of the $300 balance), not $150.

10% of rent or of the balance due — whichever is LESS

Grace period: None by statute when there's a written lease — the lease controls. Only tenancies WITHOUT a written agreement get the statutory default: a fee may be imposed only if rent is paid after the 5th of the month. · Va. Code § 55.1-1204(E)

What this means in practice

A fee that isn't in the written lease isn't collectible at all. (2026 amendments to this section add payment-method protections but leave the 10% cap unchanged.)

Whatever your state allows, the fee only works if it's written into the lease and applied every time. Run your numbers through the late fee calculator to see what a flat, percentage, or per-day fee comes to on your rent — and use the late rent notice when it's time to put it in writing.

Read the law yourself

The authority here is Va. Code § 55.1-1204(E). It's shorter than you'd think, and knowing the exact wording is worth ten summaries — including this one.

Not legal advice. General information, not legal advice. Cities can be stricter than the state, statutes change, and courts weigh lease language heavily. When real money is in dispute, talk to a local attorney.

Common questions

Do I have to give a grace period?

None by statute when there's a written lease — the lease controls. Only tenancies WITHOUT a written agreement get the statutory default: a fee may be imposed only if rent is paid after the 5th of the month. Even where none is required, many landlords give a short one — it makes the fee feel like a boundary instead of a trap, and it's the pattern courts and tenants both respect.

Can I charge a late fee if it isn't in the lease?

Practically, no. In nearly every state a late fee is a lease term — if the lease is silent, add it at renewal rather than improvising mid-tenancy.

Can I charge daily late fees?

Some leases layer a per-day amount on top of a flat fee. Whether that holds up depends on your state's cap or reasonableness rule — total the worst-case month and ask whether a judge would call it an estimate of damages or a penalty.