remedy of hypothec

[danchip]

could somebody explain remedy of hypothec to me with regard to paying rent on a property?

[dzug2]

Does this help?

http://en.wikipedia.org/wiki/Hypothec

No idea how accurate it is

[tonywiltshire]

An ancient form of security rather like a charge was used for property rent or rent for agricultural land and also used in shipping. It is sometimes known as the Landlord’s hypothec.
Where have you found it danchip?

[daffy654]

Seems as though the landlord gets to keep and sell any goods (kept in the property) owned by the tenant if the tenant defaults on the rent. That is what I could gather from the wikipedia link above.

[danchip]

i rent a flat to live in during the week when i'm at work, my rent is paid on the last day of the month, with the last day of the month being a saturday in december i rang my bank who informed me that my standing order wouldn't leave my account until the 3rd of january as the 2nd was also a bank holiday, i decided to cancel the standing order for that month and withdrew the cash and went to the letting agents and paid them on the 2nd! When i was there the agent told me that because my payment was late i would have to pay a £40 late payment fee, i explained that it couldn't have been paid earlier as my standing orders dont leave my account on weekends or bank holidays to which they replied everyone else's did, i then queried having to pay a late payment fee and was told that its in my tenancy agreement!

I have looked right through my agreement and the only thing that it says about rent is how much it is when it needs to be paid and that they reserve the right of remedy of hypothec. Could this refer to the late payment charge?