fresh Posted September 14, 2007 Report Share Posted September 14, 2007 Hi Guys I'm a newbie landlord, I was wondering if anybody could suggest the wording of an AST document. I have a bog standard AST. I want to add a paragraph for penalties for non-payment, late payment, reminder fees and finally a clause to pass the costs of a debt collector on to the tenant. Any help would be appreciated. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted September 16, 2007 Report Share Posted September 16, 2007 Hi Fresh Just wirte a few sentences ie A late payment fee will be charged at £5 per day for every day cleared funds are not received into LL nominated bank acc A reminder letter will be sent when payment is 7 days late and everyseven days therafter this will attract an adninistration charge of £20 per letter Etc etc Simon Link to comment Share on other sites More sharing options...
J4L Posted September 17, 2007 Report Share Posted September 17, 2007 This was one bit of sound advice that simon gave a few months ago that I took on board and have written into our AST's. This actually 'scares' people into paying if you ask me, once you have brought to their attention WHAT it may cost to NOT!!! Well done Simon, you converted me, a long time ago with this one, but you haven't 'quite' got me yet!!! Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted September 18, 2007 Report Share Posted September 18, 2007 Gareth "Scares"...........??????? Incentivises is a much more aceptable term ..i feel ...LOL I tell my tenants quite openly and in a friendly manner that they can pay a late as they like ......it is just going to cost a whole lot more !!!!!!!!!!!! Hopefully i will never "get" you as our exchanges would not longer be fun, entertaining and explore more ground ...I'm very happy and proud to "be different" and i think you are too !!!! Just looking at some of my typos ....disgraceful !!! but Hey if my bank receives a cheque that HASN'T got a correction on it ...then they know i didn't write it ............LOL Simon Link to comment Share on other sites More sharing options...
fresh Posted September 18, 2007 Author Report Share Posted September 18, 2007 Hi Simon thanks for the feeback, this will deter most working tenants from paying late. I was wondering has anyone charged people who are on full housing benefits late fees? In the past there has been an occasion where the tenant simply forgot to fill in the forms, so I had to wait about 2 months for council to proesss it. Luckiy it was back dated, but I can't belive some people would be so laid back when it comes paying for a roof over the head! Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted September 18, 2007 Report Share Posted September 18, 2007 Hi Fresh The simple answer is yes I DO charge people on full HB late fees as ALL tenants .......these are usually the worst culprits (for me...) BUT i do not let anyome in on HB unless they have a diamond fully referenced guarantor who has signed a guarantor agreement .....and been made fully aware that if HB is a few days late i will be looking to them for full and immediate payment .....As we all know HB is not the most punctual of payers ......and i never get involved directly ...always have HB paid direct to T then chase them for it ....except in extreme circumstances where i may request direct payment if T is unreliable.....(whilst i negotiate them leaving !!!) The reality is that normally in these cases the G will have paid bond and first months rent anyway and THEY will be waiting for payment NOT me ...... AND if they cant meet these requirements THEN NEXT T PLEASE.!!!!!!!!!!!!!!! Simon Link to comment Share on other sites More sharing options...
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