rental agreements

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    rental agreements

    Is it possible to setup an agreement so that the rent is say $500, but if the tenant pays before the 5th of the month the rent is say $450.

    I read somewhere that it is easier to give a discount for early payees then it is to collect late fees.

    Thoughts....

    #2
    This is a UK board and as such we cannot give any information on US matters!
    GOVERNMENT HEALTH WARNING: I am a woman and am therefore prone to episodes of PMT... if you don't like what I have to say you can jolly well put it in your pipe and SMOKE IT!!

    Oh and on a serious note... I am NOT a Legal person and therefore anything I post could be complete and utter drivel... but its what I have learned in the University called Life!

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      #3
      Originally posted by justaboutsane View Post
      This is a UK board and as such we cannot give any information on US matters!
      Of course we can, although the OP will still have to check out the law in their own state.

      A contract is a contract, if you write into a contract that a discount will be given for early payment and the tenant agree's to it, then I can't see any problem.

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        #4
        Perhaps such discounts are unlawful in the applicable jurisdiction.
        There are 50 different legal systems in the USA, + Federal (= countrywide) Law on top of them too.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

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          #5
          I appreciate the responses.

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