I just want to know when you pay the rent. For example...
If i were to sign a lease beginning of july and pay the first months rent and deposit would i have to pay for aug's rent the first week of aug? or would i pay for it the end of aug?
2007-06-22 10:30:45 · 14 answers · asked by soul 2 in Business & Finance ➔ Renting & Real Estate
When you sign your contract it will state when your Rent is due. You will then have 3 to 5 days- depending on the contract- to pay your Rent for it to be considered on time. After that grace period, it's considered late, and penalties will apply.
If you sign a contract that says your Rent is due on the first of the month, that's when you pay it.
The Deposit is a good faith payment kept as a promise to keep the apt. in as good a condition when you leave it as when you first rented. It's used for damages and cleaning when you move out. Whatever isn't used is given back to you about a month after your move out along with a list of what the Deposit was used for.
There is also something called Pro-Ration. This is used when you move in during the month. Your rent is based on how many days you're living there. Then you pay normal rent after that. This is also used when you move out mid-month, too.
I hope this answered your question.
2007-06-22 10:45:39 · answer #1 · answered by the_kitten_trouble 2 · 0⤊ 0⤋
Ususally, you pay at the beginning of the month for that month. So if you lease starts July 1 then your first month's rent payment covers july. Another payment is due on Aug. 1 and will cover aug., etc.
2007-06-22 10:39:01 · answer #2 · answered by Sharp Marble 6 · 0⤊ 0⤋
It should give a due date for each month, on your lease. It will say something like "Agrees to pay $xxx amount, by the 3rd of each month" It is always usually due the first of the month, and give up to 5-10 days before unpaid rent is addressed. All of that will be in your lease, make sure you read your lease carefully and get a copy.
2007-06-22 10:37:08 · answer #3 · answered by Maalru3 6 · 0⤊ 0⤋
unlike morgages you pay rent before its due. Mortgages you pay behind.
When you pay a mortgage you are paying for the last month. Lets say you make your Sept 1st payment. That was for august. Rent you pay in advance.
To make it simple you pay rent before its due. You pay upfront. Mortgage you pay after its accumulated. Yes if you are renting you will pay the Aug payment at the first of Aug. In a mortgage Aug would pay for the prior month.
Oh screw it yes you pay aug to stay there in aug, its upfront
2007-06-22 10:38:56 · answer #4 · answered by financing_loans 6 · 0⤊ 0⤋
Hi,
Did you read the lease that you signed? It should state the day that the rent is due. Most renters pay on the 1st of the month.....not the last of the month, so you should read your lease right away, so you aren't paying any unnecessary late fees.
2007-06-23 04:57:36 · answer #5 · answered by skiingstowe 6 · 0⤊ 0⤋
Pay August's rent at the beginning of August. You pay for the month, at the beginning of that month.
2007-06-22 10:34:03 · answer #6 · answered by Shibi 6 · 0⤊ 0⤋
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2016-07-12 03:19:48 · answer #7 · answered by ? 3 · 0⤊ 0⤋
Its usual to pay rent in advance. So for August, it would normally be due 1st August.
2007-06-22 10:34:37 · answer #8 · answered by Anonymous · 0⤊ 0⤋
typically when you move into a new apt. you pay the deposit and first months rent.. then by the next month you must pay legally by the 5th.
2007-06-22 10:37:39 · answer #9 · answered by Michelle P 3 · 0⤊ 0⤋
August 1st. Rent is always paid in advance.
2007-06-22 10:34:08 · answer #10 · answered by Bostonian In MO 7 · 0⤊ 0⤋