7.24.036 - Installment payment option for last month's rent
A tenant may elect to pay last month's rent in installments as follows:
A.
For any rental agreement term that establishes a tenancy for six months or longer,
the tenant may elect to pay the last month's rent in six consecutive, equal monthly
installments that begin at the inception of the tenancy or, the tenant may propose
an alternative installment schedule. If the landlord agrees to the tenant's alternative
installment schedule the schedule shall be described in the rental agreement.
B.
For any rental agreement term that establishes a tenancy between 60 days and six months,
the tenant may elect to pay the last month's rent in no more than four equal amounts
that begin at the inception of the tenancy and are paid in installments of equal duration
or, the tenant may propose an alternative installment schedule. If the landlord agrees
to the tenant's alternative installment schedule the schedule shall be described in
the rental agreement.
C.
Landlords may not impose any fee, charge any interest, or otherwise impose a cost
on a tenant because a tenant elects to pay the last month's rent in installments.
D.
This Section 7.24.036 does not apply to a tenant who rents a housing unit in a single-family residence
if the residence is the principal residence of the owner of the residence.
(Ord. 125222, § 3, 2016.)