Quote:
Originally Posted by johnp292
I did read the thread. Thanks for the unwarranted sarcasm.
Nowhere does it explain (because it can't) how such a lease modification would possibly be in the tenants best interest. My question stands.
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Oh good lord.
Alright, one more time.
Say the current lease specifies a flat $100 late fee. If the tenant pays 1 day late, she has to cough up $100.
Now say tenant and landlord agree to change the lease to an incremental late fee, $20 per day. If the tenant pays 1 day late, she only has to pay $20. If she is anything less than 5 days late,
her late fee is less than the previous $100.
Do you see how this benefits the tenant, if she feels confident that she can always be 5 or fewer days late?