The most important source of information about a residential tenant’s rights and a landlord’s responsibilities is the written lease agreement. Some landlords prefer oral agreements, but it is more common for them to require the tenant's signature on a written lease—and a written lease protects the tenant more than an oral agreement. Be sure to read the lease carefully before you sign it.

A residential landlord’s ability to charge late fees generally depends on the specific language in the written lease agreement; the state’s landlord-tenant laws that may limit the amount of late fees the landlord can charge and the circumstances in which they can be charged; and the state's contract law.

Contract law in most states recognizes an implied duty of good faith and fair dealing between parties to a contract, and a residential landlord who charges late fees because the tenant is an hour late paying the rent may be in breach of the landlord’s implied duty of good faith and fair dealing—unless, for example, the lease agreement specifies an hour (12:00 p.m.) of the day by which rent is due and states that time is of the essence.

In Georgia, the lease agreement is indeed a crucial document outlining the rights of residential tenants and the responsibilities of landlords. It is highly recommended for agreements to be in writing, as this provides a clear and enforceable record of the terms agreed upon by both parties. While oral agreements are legal, they offer less protection and can be more difficult to prove in disputes. Regarding late fees, Georgia law allows landlords to charge them as specified in the lease agreement. However, the fees must be reasonable and are subject to limitations under Georgia's landlord-tenant laws. The state's Fair Business Practices Act may also come into play if a landlord's late fees are deemed to be an unfair or deceptive practice. Additionally, the implied duty of good faith and fair dealing applies to all contracts in Georgia, including lease agreements. This means that landlords are expected to exercise fairness in enforcing lease terms, such as late fees, and cannot act in a manner that is arbitrary or unreasonable. For instance, charging a late fee for rent that is only an hour late without a specific provision in the lease stating such a requirement could potentially be seen as a breach of this duty.