Late fees for late lease may be collected if the rent has not been paid for 14 days or more (from the date set out in the rental agreement). Each fee must not exceed by more than 3% the Bank of England`s base rate for each day of non-payment. A guarantor or guarantor is a person who agrees to pay losses directly to the lessor if the tenant is unable to pay the rent or otherwise violates the rental agreement. . . .