It’s happened to all of us; you lose track of the days and before you know it, your rental payment is a few days late. Fortunately, today’s digital world makes it much easier to put in a standing order for a rent payment and not have to remember to write a check each month. Following are some of the simplest ways that you can make sure you never incur another late fee again.
- Bank Bill Pay – Most banking institutions offer a bill pay option that sends out a payment at designated times of the month. Some charge a fee, so make sure that the convenience is worth the price.
- Electronic Payment Services – Services like Paypal and Venmo are a simple way to send a payment to anyone with an account. These electronic solutions are safe, payments can be scheduled and it is easy to keep track of your account for tax or budgeting purposes. There is a small fee to send money, depending on the type of account you have, but most people feel it is negligible enough to make it worth it.
- Direct Debit – Your landlord may offer the option to submit your debit card number once and she can charge the rent on a schedule every month after. This can work particularly well of you have had to work out a deal with your landlord in regards to the rent payment schedule. I have found that I budget better when I am able to pay bi-monthly instead of in one lump sum. Many landlords will work with you on this option as long as the payment is automatic.
- Post Dated Checks – Present your landlord with 12 months worth of rent checks that are post dated. He can keep them in your file and pull them out and deposit them as each due date approaches. Make sure you keep copies of every check you submit in order to maintain a paper trail and keep your finances straight.
Paying your rent on time can go a long way toward establishing a good rapport with your landlord, which is important if you ever need to ask for a short extension or make arrangements to pay late based on unforeseen financial circumstances. Going the extra mile to make sure you are committed to being a good renter is also an ideal way to develop a good reference for your next living situation. While some of these payment solutions might require some negotiation with your landlord, it may be worth it to her to make accommodations in order to keep payment collection from ever turning into a hassle.