LATE FEE ADDENDUM
TO RESIDENTIAL LEASE AGREEMENT (CO)
[Premises Address: _____]
Effective Date: [_ , 20__]
TABLE OF CONTENTS
I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block
I. DOCUMENT HEADER
This Late Fee Addendum (the “Addendum”) is made as of the Effective Date set forth above and is incorporated into that certain Residential Lease Agreement dated [_ , 20__] (the “Lease”) between:
• “[LANDLORD]” – [Legal Name], whose notice address is [_________]; and
• “[TENANT]” – [Legal Name(s)], collectively and individually, whose notice address is the Premises.
Recitals
A. Landlord and Tenant are parties to the Lease covering the residential dwelling located at the Premises.
B. The parties desire to supplement the Lease to establish specific terms for late payment of Rent in compliance with Colorado law, including statutory caps, grace periods, and notice requirements.
C. The parties acknowledge good and valuable consideration, the sufficiency of which is hereby confirmed.
II. DEFINITIONS
For purposes of this Addendum, capitalized terms not defined below have the meanings assigned in the Lease.
- “Due Date” means the calendar date each month on which Rent is first payable under the Lease, presently the ___ day of each month.
- “Grace Period” means the period beginning the day after the Due Date and ending at 11:59 p.m. on the 7th calendar day thereafter.
- “Late Fee” means the monetary charge assessed for Rent first becoming Past-Due, calculated as set forth in Section III.B.
- “Past-Due” means Rent that remains unpaid in whole or in part after expiration of the Grace Period.
- “Notice of Delinquency” means a written notice from Landlord to Tenant specifying (i) the Past-Due amount, (ii) the Late Fee to be assessed, and (iii) the earliest date on which the Late Fee will be imposed.
III. OPERATIVE PROVISIONS
A. Grace Period
1. Tenant will not owe a Late Fee for any Rent paid in full on or before expiration of the Grace Period.
2. Landlord shall not make or threaten any Late-Fee-related adverse report or charge during the Grace Period.
B. Late Fee Calculation
1. The Late Fee for any single month shall be the lesser of:
a. Five percent (5 %) of the Past-Due Rent; or
b. Fifty Dollars (US $50).
[// GUIDANCE: Modify subsection b to a lower flat-dollar figure if desired. Neither figure may exceed Colorado’s statutory maximums.]
2. The Late Fee is assessed once per missed payment only. No daily accumulation or compounded interest is permitted.
C. Notice Prerequisite
1. Landlord must deliver a Notice of Delinquency at least one (1) day prior to assessing a Late Fee.
2. The Notice may be delivered by any method allowed under the Lease’s notice provisions.
D. Allocation of Payments
1. Unless expressly agreed otherwise in writing, any partial payment received from Tenant shall first be applied to Rent, then to Late Fees.
2. Landlord shall not refuse a partial payment of Rent solely because Late Fees remain outstanding.
E. Non-Waiver
Failure by Landlord to charge a Late Fee at any time shall not constitute a waiver of the right to do so for subsequent Past-Due Rent, provided all statutory conditions are met.
IV. REPRESENTATIONS & WARRANTIES
A. Mutual Authority
Each party represents that it has full power and authority to enter into and perform this Addendum.
B. Compliance Representation
Landlord represents that the Late Fee structure herein complies with all applicable Colorado landlord-tenant statutes, including current caps, grace periods, and notice requirements.
C. Survival
The representations and warranties in this Section survive termination of the Lease and this Addendum.
V. COVENANTS & RESTRICTIONS
A. Covenant to Comply with Law
The parties covenant to comply with Colorado’s landlord-tenant laws as they may be amended from time to time. Should the statutory Late Fee cap or required Grace Period change, the parties agree that this Addendum will be automatically conformed to the minimum standards then in effect.
B. Record Retention
Landlord shall maintain records of all Late Fees assessed and payments received for no less than two (2) years beyond Lease termination.
VI. DEFAULT & REMEDIES
A. Events of Default
1. Tenant’s failure to pay Rent within the Grace Period constitutes an Event of Default under the Lease.
2. Tenant’s failure to pay any properly noticed Late Fee within ten (10) days after written demand constitutes a separate Event of Default; however, Landlord shall not commence eviction proceedings solely for non-payment of Late Fees absent unpaid Rent.
B. Remedies
1. Upon an Event of Default, Landlord may exercise all rights under the Lease and applicable law, including—but not limited to—commencing eviction proceedings for unpaid Rent.
2. Tenant shall remain liable for all Past-Due Rent, Late Fees, court costs, and reasonable attorney fees as allowed by statute and the Lease.
[// GUIDANCE: Insert cross-references to the Lease’s default and remedy provisions as needed.]
VII. RISK ALLOCATION
A. Indemnification
Consistent with the Metadata, no indemnification obligations arise under this Addendum.
B. Limitation of Liability
Nothing in this Addendum shall be construed to expand or restrict either party’s liability beyond statutory limits under Colorado law.
C. Force Majeure
Neither party shall be liable for Late Fees attributable to Rent delayed by force majeure events expressly recognized in the Lease, provided Tenant notifies Landlord within the Grace Period.
VIII. DISPUTE RESOLUTION
A. Governing Law
This Addendum and any disputes arising hereunder are governed by the residential landlord-tenant laws of the State of Colorado, without regard to conflicts-of-law principles.
B. Forum Selection
Exclusive jurisdiction and venue lie in the state housing court or other court of competent jurisdiction sitting in the county where the Premises are located.
C. Arbitration
Arbitration is expressly excluded.
D. Jury Waiver
To the fullest extent permitted by the Colorado Constitution and applicable law, each party knowingly and voluntarily waives trial by jury in any action relating to this Addendum. Nothing herein shall be construed to waive any non-waivable statutory rights.
E. Injunctive Relief
Landlord’s right to seek injunctive or comparable expedited relief (including but not limited to eviction or possession remedies) is preserved.
IX. GENERAL PROVISIONS
A. Amendment and Waiver
No amendment or waiver of this Addendum is effective unless in writing and signed by both parties.
B. Assignment
Neither party may assign rights or delegate duties under this Addendum except as permitted in the Lease.
C. Successors and Assigns
This Addendum binds and benefits the parties and their respective permitted successors and assigns.
D. Severability
If any provision is held invalid or unenforceable, the remainder of this Addendum shall be interpreted to effect the intent of the parties.
E. Integration
This Addendum, together with the Lease, constitutes the entire agreement of the parties with respect to Late Fees and supersedes all prior or contemporaneous discussions or agreements on the subject.
F. Counterparts; Electronic Signatures
This Addendum may be executed in counterparts, each of which is deemed an original, and all of which together constitute one instrument. Signatures transmitted electronically or by portable document format (PDF) are binding.
X. EXECUTION BLOCK
IN WITNESS WHEREOF, the parties have executed this Late Fee Addendum as of the Effective Date.
LANDLORD:
[Landlord Name]
By: _____
Title: ____
TENANT(S):
1. _____ Date: _
2. _____ Date: _
3. _____ Date: ____
[Add signature lines as necessary]
[ NOTARY BLOCKS if required under Lease or local ordinance ]
[// GUIDANCE:
1. Review the Lease for consistency with this Addendum (especially notice provisions, default remedies, and force majeure clauses).
2. Confirm that the Late Fee dollar amount or percentage you insert complies with the current Colorado statutory maximum before finalizing.
3. Consider attaching a sample “Notice of Delinquency” form for operational ease.
4. Re-evaluate jury-waiver language if the Lease already contains a broader waiver to avoid duplication.
5. If the Lease spans multiple jurisdictions (e.g., corporate landlords operating in several states), isolate this Addendum’s applicability exclusively to the Colorado Premises to avoid inadvertent conflict.
]