My Rent is Going to Be Late! What Should I Do?

(September 22, 2016)


This article originally appeared on the Springs "You're Home Blog."

Even though you're conscientious about paying your Springs Apartments rent promptly, there may come a time when an emergency throws a monkey wrench into your careful planning. Perhaps your trusty car finally gave up the ghost, or injury or illness has caused a temporary reduction in cash flow.

Before you start packing your belongings, check out our tips for dealing with a potentially late rent payment. 

Give Early Notification

The earlier you address the problem, the more time you will have to work out a solution. Talk to our team as soon as you know your rent may be late. Provide written notice as well. This business-like approach indicates that you take the issue seriously and helps avoid misunderstandings down the line. However, keep in mind that fair housing laws dictate that every situation be handled in the same manner, according to the terms laid out in the lease.

No matter how great the emergency, or your stellar on-time history, promising to pay "when I can" is not sufficient.

Plan for the Late Fee

Even though you have notified the office team, don't assume that means a waiver of any late fees. Make sure you include that amount when you fulfill your rent payment. By law, we are required to send a written late notice, even if you notify the team, and to charge late fees as laid out in the lease.

Don't Write a Bad Check

You might think you can buy some time paying with a check that is going to bounce. In reality, this is absolutely the worst solution. On top of the late fee, your rent will still be late, you'll incur bank fees and your account will be charged an NSF fee. Even worse, you risk a black mark on your payment record and possibly your credit report.

Open a Rent Savings Account

Prevent future problems by establishing a separate savings account and maintaining a balance that covers at least one month's rent. An easy way to do this is to set up automatic deposits in an amount sufficient to cover the rent.

Our Springs Apartments team appreciates each resident as a valuable part of our communities. Come by the onsite office whenever you need to discuss any problems our questions. We're here to help!

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