1. (a) For each month a renter is in default under the rental agreement, an owner may impose and collect a late fee that does not exceed the greater of the following:

   1. (1) Twenty dollars ($20).
   2. (2) Twenty percent (20%) of the monthly rent.

2. (b) In addition to a late fee authorized under subsection (a), an owner may recover from a renter all reasonable costs and expenses of:

   1. (1) rent collection; and

   2. (2) lien enforcement;

      incurred by the owner as a result of the renter's default.

As added by P.L.36-2018, SEC.2.