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.