Late Fees
Edited
Late Payment Interest
If rent remains unpaid for 14 days or more, the tenancy agreement may permit interest to be charged from the date the payment became overdue.
Under the Tenant Fees Act, the rate must not exceed 3% per year above the Bank of England base rate. This is a permitted contractual default payment, not an automatic legal obligation or a fixed penalty.
Contact Property Genius as soon as possible if you expect difficulty paying rent. Early communication may help prevent arrears from escalating.
Last reviewed: 2 September 2026.