Promissory Note for Past Due Rent

If a Tenant moves out and has unpaid rent, Landlords have a right to collect that rent. However, rather than initiating legal proceedings, it often can be beneficial for both the Landlord and Tenant to work out a payment plan.

This Promissory Note provides a way for the Tenant to pay past due rent without having to also pay attorney fees or additional fees. It documents the entire amount of rent owed, provides a plan for monthly payments (including annual interest), and a maturity date by which all unpaid rent is due.

This form gives Landlords an alternative to initiating legal proceedings and offers another way to collect unpaid rent after a Tenant has moved out.