What You Should Do If You Need To Pay Rent Late
While it is always a good idea to pay your rent on time to the best of your ability, sometimes things happen. Regardless of the circumstances, there are various things you can do to remedy the situation. If you find yourself in a situation where you need to pay rent late, you will want to follow the tips discussed throughout this article.
Tips If You Need To Pay Rent Late:
1. Don't Ignore The Problem
When you are unable to pay your rent, the worst thing that you could possibly do is ignore the situation. While dealing with the situation might be stressful, you want to tackle it head on to avoid additional issues stemming from it. While you might assume that you can slip rent late past your landlord, it is generally not going to happen. Your landlord is going to notice when you fail to make your payments. Thus, instead of ignoring it and pretending like it doesn't exist, you should take steps to be proactive about the situation and let your landlord know that the rent is likely to come in late.
When you are dealing with renting a property or an apartment, you will want to have a consistent back and forth communication with your landlord. Having a good line of communication with your landlord can keep your relationship healthy and reduce the tension or distrust between the two parties. As soon as you are confident that you are not going to be able to pay your rent on time, you should approach your landlord about a possible extension for your payment(s). You will want to try to negotiate some sort of payment plan that works for you. Figure out your financial situation whether its short or long term and figure out a payment plan that works for you. By discussing it proactively with your landlord, you will likely be able to come to some sort of agreement.
3. Get The Extension Agreement In Writing
When you are approaching a late payment agreement, you want to have all of the terms discussed and written clearly in a written contract. You want to have a contract that details the different aspects of the agreement in writing so you will have legal recourse if things go wrong. That way, you will have something that you can use in your defense if your landlord decides to take you to court.
4. Don't Send Checks You Can't Cash
Another important thing that you are going to want to do is avoid sending any sort of check if you are not confident that you are going to have the funds to cover it. Nothing is going to make your landlord more upset than dealing with a resident that is constantly causing them to cash checks that bounce. Not only is it going to cause late fees to consistently add up, but it is likely going to cause them such a headache that they will be less likely to be lenient with late payments, to begin with. Thus, they are going to be more likely to simply evict you. Also read your lease agreement. Most of them have a clause which states that after a certain number of bounced checks, rent payment will be required in certified funds for the remainder or your lease.
5. Short Or Long Term
If you are dealing with financial struggles or hardships that are not likely going to last over the long haul, you are going to want to make shorter-term arrangements with your landlord. You could figure out some sort of arrangement that will allow you to pay a portion of your rent on time and a portion of it later on in the process.
6. Subletting or a Takeover
Another option would be to find someone that can either sublet your place or take the lease over completely. This is something that you are going to need to discuss with your landlord, but if you are dealing with issues that will prevent you from being able to afford the property at all, you are likely going to need to find much more drastic alternatives to avoid getting evicted and having to deal with consistent late fees.
Overall, there are a lot of different things that you can do to effectively deal with late payments on your rent. If you need to pay rent late, you want to consider your options and figure out what is going to work best for your specific situation. By coming up with a short or long-term plan, you should be able to come to a fair negotiated agreement with your landlord that should help you avoid dealing with all kinds of late fees or the threat of eviction.
A lot of the times it's as simple as discussing your financial situation and hardship with your landlord to see what they are willing and able to do. Always get your agreement in writing in order to protect yourself if things get messy. By following these tips, you should be able to better solve your inability to pay your rent on time.
Paying Rent Late For The First Time? - Get Your Late Fee Waived
How? By just asking. Many landlords especially apartment owners will waive your late fee if it is your first time. Some landlords will actually include in their annual budget a certain number of late fees to waive each month or year. So if you find yourself running short or simply forgot to pay rent and it's your first time, ask your landlord do they offer a first time courtesy waive for late rent. Now you know! ~Tip from Celeste