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Question

During the Tenancy (England) | England | Preventing Controlling and Recovering Rent Arrears (England)

Can I charge interest to tenants who are in arrears?

28 Feb 2022 | 2 comments

My tenants have signed a new fixed term agreement with an increase in rent but are still paying the old amount of rent. They did this last year too. Can I charge them interest on the amount they are in arrears? There is this clause in their agreement:

3.0 Interest on Rent Arrears and Other Monies
3.1 You agree to pay interest at the rate of 3% above the Bank of England base rate upon any Rent or other
monies due under this Agreement which is more than 14 days in arrears in respect of the date from when it
became due to the date of payment.

So after 7 days can I advise them that if they have still not paid it after 14 days I will start to charge them interest?

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