Interest on Arrears
My tenant owes me one month's rent (£1,350) as she missed a month last January. She knows about it but she keeps giving me excuses why she hasn't paid it. I would like to start charging her interest.
Her contract states interest on arrears is 4% above the Prevailing Barclays Base Rate.
Can you please let me know if this is added on to the £1,350 each month until the arrears cleared.
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