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5 Ways to Never Pay Rent Late

Guest February 20, 2013 Financial Tips, Renter Resources No Comments

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It should be a basic goal in everyone’s life to never pay a bill late. This statement is especially true when it comes to your role as a renter. Remember, that money is going right into someone else’s pocket, not the account of a major company. The person could seriously need those funds, and you don’t want to hold him or her up. Besides, late rent often means more fees for you – and that’s bad news. How can you ensure you never pay the rent late? Read on for some great tips!

Automatic Payments

Find out if you are somehow able to send automatic payments to your landlord, like through paying your rent online. Such a plan promises that you will never pay rent late again. The money will come right out of your account and go straight into his or hers, saving you a check and saving them time.

Have Expenses Saved

One of the reasons why you may pay your rent late is because you never have the money saved up in time. This is a major problem. Therefore, try to be at least a month ahead with all of your bills. Therefore, when it is time to pay your November rent, you will already have it saved up since October 1.

 A Phone Notification

Chances are, you have your phone on your at pretty much all times. Set a notification for yourself to remind you that the rent is due. You should have one a few days before it is due, so you are reminded to write out the check or withdraw the money from your bank. The other notification should come a day before it’s due, so you know to actually hand it to your landlord. Maybe sure the alarm goes off at a time when you are not at work or otherwise busy.

A Day Early

As mentioned above, it’s smart to actually plan to pay your rent a day before it is actually due. This is a smart idea, so you are not constantly rushing to pay your rent on the due date. If something comes up, you’re still ok. If you are really bad with time, then it wouldn’t be a bad idea to even have all of your settings put to two days before it is due. You are not necessarily giving yourself more time. However, let’s say that you do not have the money on your personal due date. You will still have another 24 to 48 hours to take care of it.

What Works

People use all different types of planner and notifications, and it’s all about picking out the one that is right for you and that you will actually use and see. If an old fashioned planner is your preferred method, then by all means, utilize it. Sometimes, it might come down to simply putting aside $20 there, $50 here throughout the month so that it’s right in front of you in cash form. Whatever works, go for it!

Paying rent late shows that you are irresponsible and that you really do not care about the obligations you have made. Eventually, you might wind up getting thrown out of your apartment and find yourself facing a whole slew of problems you never thought you would see.

Shoshana Alvarez writes about her career and education in real estate, and most recently has opined on her attaining a masters in human resources.

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