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I need to update the landlord name to 'Bill' and add a late fee term to the agreement.
I'll help you update the landlord name and add a late fee term. I've changed the landlord name to 'Bill'. For the late fee, I've added a standard 5% late fee term. Please review the changes.
NYC Lease Agreement
Lease Terms
This lease agreement is made between the Landlord and Tenant(s) for the Property specified above. All parties agree to the terms outlined below.
Rent Payment
Rent is due on the 1st of each month. A late fee of 5% will be applied to any payment made after the 5th of the month. Rent must be paid via the specified payment method outlined in the lease agreement.