Calculating Interest
Rent Arrears

0 Thanks
31 Posts
13 years ago
The tenancy agreement issued to a tenant of mine stipulates that any default in payment of rent will incur interest at a rate of 3% above the standard RBS base rate. Please could someone explain how I can obatin the interest rate that applies, & how do I calculate the interest to add to the outstanding amount. My tenant owes me over 2 months rent, has left their furniture at my property until they had another property to move into (over 6 weeks later) & is now demanding the return of their furniture. Can I charge for storage & if so what is considered a reasonable charge.

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.