There are some situations when tenants are unable to meet their payments. In the event of such cases, tenants that have long unpaid rent can use promissory notes to affirm their desire to pay the rent and to continue to use the property. The promissory note for unpaid rent contains the amount to be paid in addition to others terms and conditions related to that. The agreement can be used in court as a contract between the two parties if both parties agree to it and agree to sign the document.
Sample Promissory Note for Unpaid Rent
________________, 20____ (Insert Date of making of the promissory note)
I, _________________________ (Insert Name of Tenant), the undersigned, am a tenant living at __________________________. Due to outside reasons and uncontrollable events, I have been unable to pay the rent that is now past due on the above mentioned address.
I promise to pay to the order of __________________ (insert number of amount to be paid) the sum of $ _________ (Insert amount payable to the Land Lord/Lady) on or before ____________ (Insert Due date of payment). Interest on the unpaid balance from the date listed above until paid in full will be _____________ (Insert the amount of debt payment to be paid on top of the amount payable) percent _______ (Insert rate of interest to be paid on top of the payment) per annum and will be payable upon demand.
Prepayment of this note with interest to date of payment may be made at any time without penalty.
In case of any default of payment of the rent of the whole or any part of any installment, the entire unpaid balance remaining will become payable and due as well as interest. In the event of any such default or acceleration, the undersigned, jointly and severally, agree to pay to the Landlord reasonable attorney fees, legal expenses, and lawful collection costs in addition to all other sums due.
Presentment, demand, protest, notice of dishonor and extension of time without notice are hereby waived and the undersigned consent to the release of any security, or any part thereof, with or without substitution.
In case of lack of payment after a period of ___________ (insert number of months that late payment will be tolerated) the tenant will agree to leave on the date _______________ (Insert date of leaving the home). The tenant also pledges to leave the house clean. Any sort of repairs that are to be done in the house because of continued use of the property by the tenant will be the responsibility of the tenant(s). The cleaning will include any and all cleaning needed right after the moving out. Any items that remain in the house after the date of leaving will be considered property of the land owner.
Tenants Printed Name: _________________________
Tenant’s Signature: _________________________
Address of the Tenants: ________________________________________________________________
Tenant’s Number: ______________________
Tenant’s Email: ______________________
Land Owner’s Printed Name: _________________________
Land Owner’s Signature: _________________________
Address of the Land Owner: ________________________________________________________________
Land Owner’s Number: ______________________
Land Owner’s Email: ______________________
Witness Name: _________________________
Witness Signature: _________________________
Guarantor Name: ________________________
Guarantor Signature: _______________________