Some landlords chose to add a term into the lease agreement stating that if not rent is received more then 5 days after date due they are owed an additional % (usually 3%-5%) as a late payment penalty for their houses for rent. Landlords should have it clearly outlined in the lease agreement when rent is due and what happens if it is not paid by a certain date.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Ask a Question

Not finding the advice and tips you need on this Rental Home Tip Site? Request a Tip Now!

Guru Spotlight

Barbara Gibson

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!