Late Payment Policy

Late Payment Policy

_____________________________ (hereafter "Landlord") and _______________________ (hereafter "Tenant"), hereby agree to the following:

The Tenant shall lease the property at {address} beginning {date} according to the rules and regulations agreed up on in the property lease dated {date}. [See attached lease.]

Payment is due every month on {date}. The Tenant may make this payment in full up to {number} days late without penalty.

After {number} days, barring express excusal from the Landlord, the Tenant shall be charged a rate of {amount} per {number of days} the payment is late.

If the Tenant has not paid the amount in full, including late payments, by {amount of time}, the Landlord may serve the Tenant with a {number}-day eviction notice.

In witness to their agreement to the terms of this contract, the parties affix their signatures below:

_____________________________________
(Landlord signature and date)

_____________________________________
(Tenant signature and date)

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