Updated April 14, 2023
A past-due rent payment plan agreement is a written contract used by any tenant who owes their landlord back-rent. This is common if the tenant has gotten behind on their payments and the landlord agrees to not evict them if they agree to a payment plan. In addition, this agreement is used for tenants that have been evicted if a court has ordered judgment for the landlord in the amount of rent remaining on the lease agreement.
Typically, there is no interest rate charged but this is ultimately up to the negotiations by the landlord and tenant.
Eviction Notices – If the tenant has not honored the payment plan the landlord can begin eviction proceedings by using a notice to pay or quit.