What will generally be in your lease? (Continued)

4. Rent. Your lease or rental agreement should specify the amount of rent and when it is due, how it is to be paid, such as in person or in the mail. This lease should also specify:
· acceptable payment methods (such as personal check only)
· whether late fees will be due if rent is not paid on time, the amount of the fee, and whether there's any grace period, and
· Penalties if a rent check bounces.