Pennsylvania Delay Rental Payment Agreement for Multiple Owners Directing Payment of Rentals Provided For in A Lease to An Agent

State:
Multi-State
Control #:
US-OG-017
Format:
Word; 
Rich Text
Instant download

Description

This agreement provides for owners to designate an agent to receive rentals provided for in a lease. This form may be used by related parties who wish to designate one agent to handle all rental payments and make regular disbursements.

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FAQ

Passing Rent - The rent that is payable at any particular time, allowing for lease incentives. This phrase is often used for Contracted Rent. Occupancy Percentage - Percentage of the total area of all properties and units currently let to tenants. Over Rented - When the Contracted Rent is higher than the ERV.

An ?override? (also sometimes called an overwrite) is a commission paid on the sales someone else makes.

Overriding Lease means those leases granted by the relevant freeholder or long leaseholder member of the Borrower Group to each of (i) Propco 6 in respect of 93 Properties located in England and Wales and nine Properties located in Scotland, representing respectively, 32.6 per cent. and 4.0 per cent.

A rental amount paid due to sales of the tenant. For example: A lease for a service station may contain a provision for a certain addition to the rent for every gallon of gasoline over a certain amount sold each month.

An overriding lease is one of the reversion expectant on the tenancy in respect of which the payment was made, containing similar covenants and granted for a term equal to the remainder of the term of that tenancy, plus three days (except in certain limited circumstances).

You, the landlord, can charge a late fee a day after the rent is due. It's common for landlords to charge a percentage of the rent (for instance, 5% of the monthly rent) as a late fee. There is no limit in Pennsylvania on how much you can charge as a late rent fee.

If you do not have a written lease, in most circumstances the law considers you to have an oral month-to-month lease. Either you or your landlord can end the lease at the end of any month, for any reason or for no reason. Are there some reasons for eviction that are illegal? Yes.

Under the right to a safe and habitable home, a landlord cannot force a tenant to move into a home or unit ?as-is? and cannot demand that the tenant be responsible for repairs. To be safe, and habitable, a unit or home should have: Working smoke alarms. Working hot water.

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Pennsylvania Delay Rental Payment Agreement for Multiple Owners Directing Payment of Rentals Provided For in A Lease to An Agent