Is it legal to charge a 3% late fee for defaulting on property fees?

It is legal for owners to delay the payment of property fees and collect property late fees. At present, China's property management regulations have not clearly stipulated whether the property has the right to collect late fees, which needs to be determined according to the terms in the property service contract signed by the owner and the property company. In the existing judicial precedents, some courts support property management to collect late fees according to the contract.

Legal objectivity:

Article 64 of the Property Management Regulations violates the property service contract, and the owners fail to pay the property service fee within the time limit, and the owners' committee shall urge them to pay it within a time limit; If it fails to pay within the time limit, the realty service enterprise may bring a lawsuit to the people's court. Article 585 of the General Principles of the Civil Law of People's Republic of China (PRC) * * * The parties may agree that if one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party, or they may agree on the calculation method of damages for breach of contract. If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase the liquidated damages at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.