What is the maximum late fee allowed in Colorado?

In Colorado, according to the state's Uniform Residential Landlord and Tenant Act, the maximum late fee that a landlord can charge is $50 or 5% of the monthly rent, whichever is greater. This late fee can only be charged if the rent is not paid within the grace period specified in the lease agreement, which is typically 3 to 5 business days. If the rent remains unpaid after the grace period, the landlord can charge daily late fees of up to $5.