Late Payment
Your rent and Service Charges/ Conservancy Charges (SC/CC) fees are payable on the 1st of every month. However, you are given till the last day of the month to make payment. If rent and SC/CC fees are not paid within the month, a late payment charge of 8% per annum will be imposed on the outstanding sum at the end of the following month.
An example of the imposition of late payment charge is shown in the table below:
| Outstanding rent and SC/CC | : |
$1,000 x (8%/12 months) = $6.70 (rounded up to next nearest five cents) |
Payment received will be used to settle outstanding late payment charges before the balance is apportioned to other costs such as legal costs, rental payments, etc.
