South Dakota Late Fee Rules

No statutory requirement: nothing in SDCL Chapter 43-32 (Lease of Real Property) sets a cap on late fees, a mandatory grace period, or a notice rule for charging them. Because there is no statutory limit, a late fee is governed by general South Dakota contract law: it must be written into the lease to be charged, and courts generally enforce a late fee only where it represents a reasonable estimate of actual damages from late payment, not a punitive penalty. Rent itself is due as the lease provides; note that nonpayment for three days after rent is due makes a tenant subject to a forcible-entry-and-detainer action under SDCL 21-16-1(4), independent of any late-fee term.

No specific statutory penalty. A late fee not stated in the lease, or one so high it functions as a penalty rather than a reasonable cost estimate, may be unenforceable under general contract principles.