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Making a Rent Payment Plan
Now, more than ever, it has become increasingly difficult for tenants to be able to pay rent on time because of COVID-19. As a result, requests by tenants for deferral of rent payments have increased. If your tenant can't pay rent due to the coronavirus pandemic, this document can be used to outline your terms for the deferral and repayment of rent.
If you have questions about landlord/tenant relations during the COVID-19 pandemic, ask a lawyer or find more resources in our Coronavirus (COVID-19) Legal Center.
Use the Rent Payment Plan document if:
Making a Rent Payment Plan can help landlords and tenants avoid conflicts by outlining clear rules for the repayment of deferred rent. This agreement will detail when the deferral period starts, the duration of the deferral period, the installment amount, and when installments are to be paid. The agreement also allows landlords to offer a discount on deferred rent in exchange for the performance of tasks like yard work or repairs.
While this document is intended to support tenants who have been unexpectedly laid off or furloughed due to COVID-19, landlords should only enter into this agreement if they believe the tenant will make a good faith effort to repay the debt.
Other names for this document: Rent Repayment Plan, Rent Deferral Agreement, Temporary Reduced Rent Agreement