Late Rent Payment Agreement

Late Rent Payment Agreement Template for Singapore

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Key Requirements PROMPT example:

"I need a Late Rent Payment Agreement for my commercial tenant who owes three months' rent (S$15,000), with a payment plan spreading the arrears over six monthly installments starting January 2025, including a 5% interest charge."

Document background

The Late Rent Payment Agreement is essential when tenants in Singapore face difficulties meeting their rental obligations. This document provides a structured solution that helps avoid legal proceedings while ensuring landlords can recover overdue rent. It must comply with Singapore's property laws, including the Landlord and Tenant Act and Civil Law Act. The agreement typically includes payment schedules, interest charges, and default provisions, offering clarity and legal protection for all parties involved. It's particularly relevant given Singapore's strict property regulations and can be used for both residential and commercial properties.

Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names and addresses

2. Background: Reference to original lease agreement and circumstances leading to late payment

3. Definitions: Key terms used in the agreement

4. Payment Plan Details: Specific amounts, payment dates, and method of payment

5. Default Provisions: Consequences of failing to meet the payment plan

6. Execution: Signature blocks and witnessing requirements

Optional Sections

1. Interest Charges: Terms for additional interest on late payments (used when parties agree to interest charges)

2. Security Provisions: Additional security or guarantees (used when additional security is required)

3. Mediation Clause: Process for dispute resolution (used for larger amounts or complex situations)

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment installments and dates

2. Original Lease Agreement: Copy of the referenced lease agreement

3. Statement of Arrears: Detailed calculation of outstanding rent and charges

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Residential Real Estate
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Hospitality
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Relevant Teams

Legal
Finance
Property Management
Operations
Risk Management

Relevant Roles

Property Manager
Real Estate Manager
Leasing Manager
Finance Manager
Legal Counsel

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Let's create your Late Rent Payment Agreement

Authors

Alex Denne

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