Paying Your Rent And Late Fees
Read your lease carefully. Every lease is structured differently. Some
leases require that the rent be paid on the first of the month with no
allowance for being late, while others may give a 10 day or more "grace
period." If you do end up paying your rent late or after the "grace
period" your late fee should be stated in your lease. Some leases will
indicate a percentage of the rent amount while others will give a dollar
amount.
Landlords are usually willing be accept multiple checks from the
roommates who signed the lease. Don't be afraid to submit more than one
check but be sure that the checks total the full rent amount. If you
must pay your rent in cash get a signed receipt. Be sure to save your
canceled checks and/or money order receipts if you should ever have to
verify your rent payments. Landlords and property management companies
make mistakes too.
Before you send your first check in, confirm the mailing address. The
lease will usually indicate were the rent should be paid. If you live
in an apartment building you may be able to deliver the rent to the
leasing office. Regardless of where you live be sure to pay your rent
before the end of the "grace period" to protect your credit.
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