Q: Can I charge my tenant a late fee if he/she does not pay the rent on time?
A: Yes, you can charge as much as $15 or 5% of the monthly rent, whichever is greater. You can only charge one late fee for each late payment.
Q: Am I allowed to charge a pet deposit if I let the tenant move in their pet?
A: Landlords in North Carolina are allowed to charge a pet deposit, and it does not have to be refundable.
Q: Is there a maximum limit on what I can ask for as a security deposit?
A: If the tenant is a weekly tenant, you can ask for the equivalent of 2 weeks' rent. If the tenant pays by the month, the maximum is 1 1/2 months' rent. If the tenant pays rent on a longer-than-monthly basis (such as every 2 months, every 6 months, etc), the security deposit cannot exceed 2 months' rent.