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Calculating interest on late payments of rent?

hayleythedaisy · 2009-05-28 11:50:48

Hi, I hope someone can help me. I am currently renting a place out as I can't sell it, but the tenant is late paying the rent. I have looked at the tenancy agreement and it says for late payment of rent interest will be charged at 4% above the England base rate (currently 0.5% I think) from 14 days after the rent was due.…

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hayleythedaisy Posts: 1,692 Forumite

2 June 2009 at 10:17PM

Hello,

I think a couple of posters may have got me a bit wrong. I just wanted to know what it would be. I tried to call her in the first instance to see what the problem was with the late payment. However when I didn't get an answer I sent a letter requesting the payment in 7 days without any mention of eviction or charges.

The rent has now been paid, however I wanted to know what the next steps would be if there was no rent paid, incase they took a funny attitude with it. Thank you for your advice and help. Fortunately this matter was resolved without a need for the situation to be escalated.

Hayley

Bump due 22nd September
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Calculating interest on late payments of rent?

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