What Are My Options if I Can’t Pay My Rent on Time?

What Are My Options as a Tenant if I Cannot Pay My Rent on Time?

So you know that you don’t have enough money to pay your rent this month. Now what? What are your options if you cannot pay your rent on time? Here are some suggestions:

Call Your Landlord Right Away

If someone owed you money, which would you prefer? That they just disappear and hide from you because they cannot pay you their money or that they call you and explain the situation and how they can fix it? You have just put yourself in your landlord’s shoes. A lease is based on trust. The more your landlord can trust you, the longer you can stay. If you know you cannot pay the rent and are going to be late, be kind and give them a call to let them know. It will go a long way to softening the situation and avoiding an eviction.

Don’t Send Bouncy Checks

If you know the money is not there, don’t send a check that you know will bounce. Not only will you end up having to pay a late fee and all the landlord’s returned check charges, but he is going to be in a really foul mood when he calls. You will have little, if any, wiggle room to negotiate a solution. This can also be legal reason to evict you.

Ask for a Few More Days to Pay the Rent

If you know that while you cannot pay the rent now, but you will have the money to pay the rent in a week or so, then call up your landlord, or their agent, and ask if you could pay the rent a little late this month. Explain that it is a temporary situation that will be resolved. You should be prepared, however, to pay a late fee.

Pay Some of the Rent on Time

If you have some but not all of the rent, why not pay what you have now and then pay the rest as soon as you get it. Paying some of the rent on the date it is due helps to show the landlord that you are serious about wanting to keep your lease in good standing.

Change the Due Date of the Lease

Sometimes the problem is not the pay but when you get it. If your rent is due on the 1st, but you receive your money on the 15th, why not ask to have your rent due date changed to the 15th. If your landlord knows the reason, then he may be willing to make the change. You can expect the landlord to prorate the rent and add the additional days onto your next rent payment to bring everything up to date.

We understand that life happens and that money can get tight. If you are a good and dependable tenant, then we will do what we can to help you to stay. Try not to make late rental payments a trend. Do you best to budget your pay and if you cannot pay the rent please call us first.

 

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