If the balance is $60 to $100, you may not charge more than a $15 late fee, and if the balance is greater than $100, you may charge $20 or 15 percent of the balance due, whichever is greater. SSM reserves the right in its sole discretion to terminate your account and restrict your use of all or any part of the Website for any reason or no reason, without notice, and without liability to you or anyone else. Web page addresses and e-mail addresses turn into links automatically. We may modify these Terms from time to time, in our sole discretion. SUBCHAPTER A. Courts have also held that prompt payment, on-time payment discounts or "street rent" (where rent is reduced to a certain amount as long as it is paid by a certain date) is simply an attempt to disguise a late fee. As always, I look forward to any comments you may have involving this subject or others you would like to see addressed in this column. When it is applied it is $55. The self storage industry is well known for its fees, be it invoice fees, late fees, overlock fees, inventory fees, lien fees or sale fees. Archive by tag: late fees Return. The Terms supersede all prior or contemporaneous communications between you and SSM concerning any matters set forth herein. In simple terms, a liquidated-damages clause in any contract presumes there is a possibility that one of the involved parties might breach the contract, and fixes the amount that will be awarded to one party in this event. Billing. Common Law Fraud & False Advertising. You are solely responsible for choosing and maintaining the confidentiality of the user name and password, and you are solely responsible for all activities and purchases made through your account. We do not sponsor or endorse those third party sites, and you may access those third party sites through the links at your own risk. Tamara Wilhite, hub author. The short conclusion to this story is that in June 1999, the Maryland Court of Appeals affirmed a judgment in the amount of $6,701,503.60, representing the $4.50 difference between the late fee amount of $5 and the actual damages suffered by United Cable of 50 cents per late payment. App. You may not copy, modify, distribute, or reproduce in any way any copyrighted material, trademarks, or other proprietary information belonging to SSM or our licensors without obtaining prior written consent. An operator can make a reasonable approximation and calculate the lost value by either a) the state's legal interest rate or b) the actual out-of-pocket costs to the operator, such as late fees on mortgages or other bills that were unable to be paid as a result of the occupant's failure to pay rent. https://www.insideselfstorage.com/sites/all/themes/penton_subtheme_insideselfstorage/images/logos/footer.png, Extended California Price-Gouging Protections Could Affect Self-Storage, Other Services. Self Storage Late Fees and Auction Timeline. If you become aware of misuse of the Website, please contact us directly at digital@SimplySS.com. If payment is not received by the 15th of the month, an additional late fee is added to your account. The best way to know you are safe is to have a piece of legislation that provides guidance on late fees and a safe harbor for owners. Social. Lien for rent, labor, or other charges §18–504. Offering help during a crisis From the compassion perspective, several self-storage operators are temporarily offering free or discounted units to college students who’ve been displaced by coronavirus-driven school shutdowns. These Terms do not provide any third party with any remedy, claim, or right of reimbursement. That does not, however, mean the attorneys in Texas are not looking for another, more dramatic late-fee case to file. But come April 1, a $1,200 bill for Barrie’s Public Storage unit was still due. The SIMPLY SELF STORAGE design service mark is a registered trademark of Simply Storage Management, LLC. The closest thing to a pro-owner late-fee bill for self-storage was proposed and narrowly failed to pass in Missouri. For a storage facility to be able to increase storage fees during the storage period, there must be a clause in the storage agreement enabling the increase to occur. Some states have recently solved this problem (not necessarily to the operator's advantage) by enacting statutes that provide the appropriate late fee in a self-storage situation. Please note, there may be additional terms and conditions associated with certain products and services that we provide or that you can purchase through the Website; these Terms are general in scope and are superseded by the more specific terms and conditions for those products, services and purchases. 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