Join Date: Jul 2002
Location: So Calif
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I think the late fee is $30 a day starting day 4 of being late. We have a 3 day grace period.
Homeschooling, Homesteading Mama to DD ('02) and DS ('04)
::::: Married for ten years to my good man :. Mama to my sweet and funny boy and my lovely little girl
We've suddenly been put in the position of being landlords to a rental house. Our plan is: if the tenants pay rent on time each month, come December, they only have to pay 1/2 of the month's rent.
What incentives does your landlord give you, if any?
|Clause 5. Payment of Rent
Regular monthly rent
Tenant will pay to Landlord a monthly rent of $XXX, payable in advance on the first day of each month, except when that day falls on a weekend or legal holiday, in which case rent is due on the next business day.
Clause 6. Late Charges
If Tenant fails to pay the rent in full before the end of the third day after it's due, and no prior arrangement has been made, Tenant will pay Landlord a late charge of $10, plus $5 for each additional day that the rent remains unpaid. The total late charge for any one month will not exceed $45. Landlord does not waive the right to insist on payment of the rent in full on the date it is due.
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