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1. Parties: Identification of the landlord/property manager and tenant(s), including full legal names and contact details
2. Background: Context of the agreement, reference to the main tenancy agreement, and reason for the payment arrangement
3. Definitions: Key terms used throughout the agreement, including 'Payment Plan', 'Due Date', 'Outstanding Amount', etc.
4. Outstanding Amount: Clear statement of the total amount owed and how it was calculated
5. Payment Terms: Detailed payment schedule, including installment amounts, frequency, and due dates
6. Method of Payment: Specified payment methods and account details for making payments
7. Default and Remedies: Consequences of missing payments and the landlord's available remedies
8. Relationship to Tenancy Agreement: How this payment agreement relates to the main tenancy agreement
9. Acknowledgment: Tenant's acknowledgment of the debt and agreement to the payment terms
10. Execution: Signing section including date and witness requirements
1. Guarantor Details: Used when a guarantor is required to secure the payment plan
2. Early Payment Provisions: Include when there are specific terms for early payment or payment in full
3. Hardship Provisions: Used when including provisions for reviewing the payment plan in case of financial hardship
4. Interest and Penalties: Include when charging interest or late payment fees (subject to legal restrictions)
5. Mediation Process: Used when including specific dispute resolution procedures
6. Variation Terms: Include when allowing for potential future modifications to the payment plan
1. Schedule 1: Payment Schedule: Detailed breakdown of payment amounts and due dates in table format
2. Schedule 2: Property Details: Details of the rental property related to the payment agreement
3. Schedule 3: Statement of Account: Detailed breakdown of how the outstanding amount was calculated
4. Appendix A: Direct Debit Authorization: Direct debit form if automatic payments are being set up
5. Appendix B: Supporting Documents: Copies of relevant invoices, statements, or correspondence regarding the debt
Real Estate
Property Management
Residential Housing
Commercial Property
Student Accommodation
Social Housing
Property Investment
Legal
Property Management
Operations
Finance
Compliance
Credit Control
Tenancy Administration
Risk Management
Customer Service
Collections
Property Manager
Tenancy Manager
Legal Counsel
Real Estate Agent
Housing Officer
Accounts Receivable Officer
Compliance Manager
Rental Administrator
Operations Manager
Financial Controller
Leasing Manager
Portfolio Manager
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