Link Late Fees to Direct Deposit of Rent Payments
Despite the growing popularity—and convenience—of using direct deposit or wire transfer (that is, depositing funds directly into another bank account), your owner could refuse to give you the right to pay your rent this way. Instead, it could require you to pay your rent with a traditional, paper check. Regardless of what method tenants use to pay rent, however, most owners want to impose late fees if the payment is late. But the paper check method is slower and less reliable.