Hello,
I rent out 2 rooms in my house. One guy moved in during February and I have found a suitable tenant for a second room. I know with the rent-a-room scheme I don't have to provide a lease etc. but after years of varied experiences I have a tenancy agreement drawn up to protect myself and the tenant. Experiences with every previous tenant brings to light a new edit necessary to this agreement.
My current tenant has been regularly late with rent, every month in fact. To be honest it is usually only a few days but a couple of times it has been 2 weeks. Although this is annoying (especially because my mortgage goes out a few days after it is due so I end up having to live on a shoestring until it comes in) but I've heard worse stories so I can deal with that.
My question is, has anyone stipulated a fee for late rent in a lease/rental agreement? Is this something that can be done and if so what is the standard rate? To be honest, I don't even want to have to apply it, I more just want to use it as an incentive.
I rent out 2 rooms in my house. One guy moved in during February and I have found a suitable tenant for a second room. I know with the rent-a-room scheme I don't have to provide a lease etc. but after years of varied experiences I have a tenancy agreement drawn up to protect myself and the tenant. Experiences with every previous tenant brings to light a new edit necessary to this agreement.
My current tenant has been regularly late with rent, every month in fact. To be honest it is usually only a few days but a couple of times it has been 2 weeks. Although this is annoying (especially because my mortgage goes out a few days after it is due so I end up having to live on a shoestring until it comes in) but I've heard worse stories so I can deal with that.
My question is, has anyone stipulated a fee for late rent in a lease/rental agreement? Is this something that can be done and if so what is the standard rate? To be honest, I don't even want to have to apply it, I more just want to use it as an incentive.