"Automatic application of 3% interest above base rate for late rent (in compliance with Tenant Fees Act 2019). So 14 days after rent remains unpaid, the system should automatically apply daily interest (starting from day 1) for each day that the rent remains unpaid.

There should be an option as to whether the interest should be paid to the landlord (minus the usual management fee) or whether it should be retained by the agent in full to cover the cost of chasing and accounting for late rent."