What's normal for late fees?

Am asking this question for a friend... there's a different boarding contract for the newer boarders than the older ones.
Newer boarders pay a fine of $2 per day for late board, older boarders pay no late fees.


My friend needs to institute something for everyone, I personally think that $2 per day is too low. I kind of think it should be in the $10 a day range.

What's normal? What's in your contract?

Ours is a flat $25 late fee! And board isn't even that expensive... I think they just wanted to give us a good incentive to pay on time ;).

Thanks, at some point does it get more than $25, or just $25 per month until they take possession of the horse?

Honestly, our barn is on a private residence (we only have 5 boarders), so it's never been to that point. Everyone pretty much pays on-time. I imagine, though, if it was a bigger barn it would be something like a fee + x dollars per day. I feel like the penalty can be bigger, as long as there is room for flexibility if the boarder comes to the barn manager before the due date to work something out.

$50 after the due date.
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25.00 seems fair.
10.00 a day seems like extortion LOL
Or a buck a day.
A window of a day or two after the board is due is simply good 'politics'

Thanks for the input everyone so far.

Anyone else want to share what their barns policy is?

My QH was boarded for just a short time before we brought her home - seems to me that a $25.00 late fee was the policy.... I don't recall anyone being late and having to pay it, but I think there was one boarder who was struggling and given a few days 'grace period', however.

Our is a pretty private barn as well, friends or friends of friends board only. Board is due 1st of every month, plus additional grain costs. We have two days after the first of the month, but after that she charges a flat $25 dollar fee then $2 a day after that initial fee. So day one late is $25, day 2 $2, day 3 $2. That's in our contract. We have one boarder, who lack of a better term is an airhead. She's not by any means "stupid" she doesn't apply herself or care to be at the barn when her horse needs her. So we got new contracts with the late clause. She hasn't been late since.

Thanks for your input everyone.