As a landlord, I second this. I want you to be honest and communicate.
Late fees suck, but so does evicting someone. Cleaning a place up to show it and then leasing it again takes time and money also.
It's amazing how much the interests of landlords and renters align at the end of the day. Renters want a place to live, and landlords want someone to pay them money. Evicting, cleaning, posting, showing, vetting, and signing adds up to big numbers very fast vs getting a call saying, "Hey, I'm behind on the rent because of factors outside of my control, here's my situation, and with pay coming on Friday I'll have cash/check in your hand by the end of the business day this Friday."
Sure, you'll note down the late rent and probably charge a late fee since you're behind on your expenses (landlords have bills too). But as long as they follow through and this is a one-off thing, mistakes happen. Move on, and maybe you can call them the week before rent is due to ensure they have the funds to cover rent.
Completely agree. Stuff happens. Be open and honest and make sure it doesn’t “happen” every month.
Tip for OP. Pay your rent before you pay ANYTHING else. Always. You can do so much more with a roof over your head. You don’t NEED a car, but you do need a roof.
They won't evict you for 4 days, I wouldn't make a habit of being late. But eviction takes months and they will contact you next week if your still unpaid. They will work with you. Be humble the others here are right your landlord wants to keep you unless your rent is below market but still you have more than 4 days. Relax.
> But eviction takes months
It really depends on the state. California is probably months.
In Florida, you'd first get a 3 day notice to pay rent or vacate. If you don't pay, the landlord could be there with the sheriff to evict you in about two or three weeks if they follow the right process.
For lack of sounding boomerish here, CALL them and speak with them and explain the situation. Sending an email or something that may get lost in the shuffle especially if they have multiple properties isn’t a good idea.
This. Talking to someone greases the wheel a lot more than email a lot of the time. It becomes much more personal. Either way though, landlord should be able to forgive one late rent payment if the situation is explained.
People email because it is easier to have the conversation but don’t understand the it is easier to say no to an email but hard to do it face to face for both sides…. Call or speak, no email.
Call them. You'll probably pay a modest late fee that will be dwarfed by whatever the interest on a short term loan would be. (You'd probably have to pay the interest regardless of how fast you paid it back).
Some landlords may even give you a one time defferal if you've been a good tenant. People can be understanding, but if you don't communicate they're going to assume that you're dodging them and won't pay.
Not only TRY to avoid the, avoid them like the fuckign plague. They are designed to be impossible to pay off and a $900 loan can end up costing $3000 easy.
Die before you ever get a payday loan.
I paid via entering my bank account information. My bank notified my landlord and apartment system notifications notified me this morning my payment was rejected due to insufficeint funds.
So payment went through. Money went out of my bank account. Then few days later my account went positive again. Which makes sense now because I got a notification today say the rejected it today.
In the future, its better to call your landlord and work things out than over drafting your account and hoping for the best. The over draft costs them money and it brings into question whether something shady is going on.
For context, I'm a landlord. There are tenants out there who take advantage of landlords by faking checks, abusing the courts, and doing all sorts of nonsense. It's well known in our business so we are always concerned we may have a tenant like this. The last one I had cost us over 10 thousand dollars.
Communication is key. Don't try to hide what's going on and as others have said, don't take drastic measures (e.g. payday loans) before talking to your landlord first.
Very good advice.
I have a GREAT relationship with my landlord. If I am ever gettign down to the wire, I always let them know in advance that Im waiting for my payments to clear so I can Zelle my payment.
I also ty to pay early, like a week or at least a few days so they already have $$ in their bank. they love that I put them first.
I will highlight again - bounced payments cost THE LANDLORD too. They also face a fee from their bank when your funds get yanked back.
If you send a payment knowing it will bounce, it is a lot less likely they will waive a late fee because that late fee is now allocated in their budget to cover the fee they got for the bounced payment.
So sending a payment to get them off your back, knowing it will fail, is a bad move if you want to have any wiggle room with the landlord.
Yep. I've had more than one tenant act surprised when I got upset because they sent me a check they knew wouldn't clear. I told them, just tell me if you can't pay, you're costing me MORE money by having a check bounce that I've got to cover. And tenants wonder why everyone is moving to paying by app isntead.
You should also ask your bank about overdraft protection credit line or option. Maybe there's a fee if it gets used but as long as you pay if off a couple days later that's the only cost to it.
If you make assumptions that the LL got your message, then you need to step up your adulting. Big time. Never assume. Get them on the phone today, now.
Reach out to them in person and explain your situation. Technically, you are already in breach of your lease agreement. Ask them understanding and tell them it will be paid in full with penalties on Friday.
Worst case scenario they tell you no dice. Most landlords will take your money either way, but the may still choose to file for eviction proceedings. I would see if you could get the exception in writing and ask not to be evicted. There are a lot of tenants that have one time issues, and although the lease agreements and notices are very strict, some landlords will give you a one time pass. Again, you need to talk to them and in person would be ideal.
While I agree you should probably call, it also sounds like you’re panicking for no reason (not judging I do that a lot too, just speaking objectively) the shortest notice they can give you is 5 days and from now to the end of 5 days, you’d have already been paid/paid rent. Hopefully this helps bring you some peace of mind 🤞
at least where i live, they can't even evict for one late payment, just charge an extra fee on the rent for the hassle. at least with OP's ability to pay within three days that is
This, but also, do some serious reflection on why you're in this situation.
Income is shitty for everyone, costs are high... But look at all of your transactions on your bank account and ask yourself if there's a way to reduce those expenses.
Cell phone, car/truck payments, fast food, and entertainment expenses tend to be the biggest areas of opportunity for most people.
just tell your LL youll be late (tell them you get paid on friday)
they will absolutely work with you because if you just plain refuse to pay or leave it is a pain for them to deal with.
Inform your landlord of the situation and say you will have payment in full on Friday. Ask if you should make a partial payment today and that you’ll accept paying the late fee. The landlord may wave if for you for just this one time - unless you rent at a complex then they will definitely not wave the fee.
This exactly. Biggest thing is avoid it becoming a pattern.Even at the big complexes sometimes they work with you if they are smart. A good tenant is worth a lot.
Now if this become a monthly habit that is a different problem and yes even I would more than likely not want to renew your lease as remember even I as a landlord have bills to pay on the house and I can not have them be late
Payday loan is the beginning of downward spiral and will cost you WAY more even in the short run. Call your landlord, on the phone like a human being, tell them exactly what you told us. Offer $100 now and get the rest next Friday. Put a little away this month to get ahead of next month and go lean this month to catch up. Things will get better.
Yeah I've gotten hooked on the payday loan trap back during some rough years in my past. It's good for temporary relief, but if you live paycheck to paycheck then what happens is you have to keep taking out payday loans every week, 2 weeks, whatever your pay cycle is. And next thing you know, you're paying back a payday loan only to turn around and take out a new one during the same visit just to float and you realize, all you've really accomplished at this point is you're giving these motherfuckers $80, $100, $150, I don't even know what the cut would be these days. I haven't fucked with this since around 2008 or 2009. I just know all I really got was less out of my pay, but couldn't afford not to keep taking one out until I finally lost my goddamn mind and said fuck it, let shit start bouncing.
I do not advise the payday loan trap, lol. When it becomes a regular occurrence, you'll realize all you're really doing at this point is exchanging something like a $250 check in exchange for like a $150 cash stack or check. Fuck that.
The avg payday loan is EXTREMELY predatory, with 400%-900% interest! You could literally end up paying thousands of dollars for a small payday loan, originallyless than a thousand dollars.
In case anyone's doubting this:
https://coascenters.howard.edu/lured-debt-how-payday-loans-and-paycheck-apps-exacerbate-financial-struggles-underserved
and even worse how payday lenders target more poverty-stricken areas:
https://dfpi.ca.gov/2016/12/07/payday-loan-storefronts-concentrated-in-high-poverty-areas-dbo-research-brief-shows/
They pretty clearly disclose the terms of the loan. Payday loans are high interest because they are not secured and they do not do credit checks. Some major fraction of the loans do not get paid back, so they charge high interest.
Don't take the loan if you don't agree with the terms.
> They pretty clearly disclose the terms of the loan.
And people getting a payday loan are financially literate people who carefully look over the terms before deciding if it's right for them.
"Don't take the loan if you don't agree with the terms."
I agree. And I wouldn't agree to it. BUT, growing up with a single mom who had already filed bankruptcy and had no way to feed us, I saw her enter into a few payday loan agreements. She didn't want to, she worked three jobs and desperately wanted out of the situation she was in and knew the loans had awful terms but when you look at your kids and want to feed them? Your opinion changes. Aside from that, some people just don't understand how interest works and these payday companies know that which also falls under the term "predatory".
It's done by charging fees for the service. For example, to borrow $100 you pay a $15 fee. Seems reasonable, except 0.15 \* 26 = 390% without compounding.
Right out of school I was late by a month every month with a property management company. I just talked to them once a month and they never did anything, not even a late charge.
im a property manager and i always prefer communication. we dont charge late fees and we wont send a rent demand if you tell me you'll be paying on the 15th or something.
I spent the last 3 weeks calling, emailing, and leaving messages to my old property manager to discuss a security deposit issue. He ignored me. Then I filed an arbitration claim against him, he emailed me back in 15 minutes.
My family owns a large seniors-only rental property, and we have a management company do the day-to-day business. We do charge late fees, but our policy is to work with the resident as much as possible until there's no other recourse than eviction. We hate evicting people. We often waive late fees if the resident tells us they're going to be late a few days before the due date.
Before Covid we actively directed our lower income residents to assistance programs. During Covid we actively directed our lower income tenants to the assistance programs. After Covid we actively direct our lower income residents to assistance programs. We let a few tenants pay in the middle of the month because that's when their pension checks hit, and we don't charge them a late fee.
Our annual turnover is extremely low. Usually it's because the resident dies. We have one resident who's been there since the property opened in 1963.
You won’t be getting evicted if your payment is late once. Eviction is expensive and a huge headache so they won’t want to do that.
Everyone telling you to talk to your LL is right. Do that. DO NOT even consider payday loans. Literally never consider a payday loan for any reason. Credit cards are better than those.
Literally that!
Before the payday loan, you are in deep shit and might get evicted. After the payday loan, you are in even deeper shit, will almost certainly get evicted, and stand a good chance of having to declare bankruptcy and take years to dig yourself out of that hole.
Whatever trouble you're in right now can only get worse when you get a predatory loan. The only thing that is good is that you buy yourself a few extra days before the shit truly hits the fan.
Give him $150 as a goodwill gesture with thr promise to pay off on Friday when check hits. Don't get a payday loan. The interest will kill you. Also, and it's not a joke, look into selling plasma. I know lots of people that do and make a good size of extra cash.
Truth to that, a co-worker of mine did that for a good while. I think the only real reason he stopped is the particular place he was hitting up reduced their hours of operation ever since covid, and it's less convenient for him to hit them up around his work hours. Dude works a 2nd job over the weekends, so he can't even hit them up on a Saturday or something lol. I want to say back in the day he was hitting them up 2x a week? There's definitely a period of days they make you wait before they let you come back and give more, but he was going there on the earliest day he could like clockwork lol.
Like the others have said, speak to your landlord. Speak, don't email, for God sake don't text. Call them and admit you're short. Offer to give a good faith payment now. Don't give them all your money, you gotta eat, maybe half with the promise of the rest in 4 days.
Don't make a habit of it.
Edit: your credit score is meaningless in this context
I mean I can't speak for every landlord but I much prefer a text or an email like nothing you say to me and voice is going to change my opinion I'm just going to say okay and then if you keep your word now I trust you and if you don't keep your word now I don't trust you it's just that simple
Could be an age thing. I'm on the line, a text would be okay but a call would be much more meaningful. The older your landlord is the less likely a text is appropriate.
In those situations I usually tell the person over the phone, we can follow up with a text or email just to confirm but i need to get it to the front of your mind today.
I'm a landlord. Zero chance I would evict you for this. Especially if you came to me first and explained the situation.
I might send you home with some snacks so you have a little extra food.
I think you are way over stressing the situation, payday loans are terrible. No need to even consider in my opinion. Like everyone else has said, reach out to the landlord and explain the situation, if you’ve been living there 4 years and only paid late a handful of times you sound like a great tenant to me, and the idea of eviction shouldn’t even be on the table for them
In my first place that I ever rented, I was rather worried about getting evicted if I was late even a single hour. So, I always made sure to drop off my check the day before no later than midnight.
I finally asked the building manager. He told me, that I was good. I had never been late. He wouldn't even think of evicting me. On the other hand, he had another tenant who was in a successful sales position and was paid almost entirely on commission. As a result, he'd pay great half the year, and then he'd be late by several months at other times.
The manager said he hated having to deal with this, but he always smoothed things over with the landlord. Just not worth the hassle of an actual eviction, and the money would always come in in the end.
This was rather eye-opening to learn.
Never ever get a payday loan.
Best option: Communicate with your landlord that you’ll have the funds friday and ask what you’ll owe with the late fee. If it is a property management company then there will be a late fee. Make sure this ok with them.
A possible option if they want the money today or they will start eviction proceedings is a credit card. Some property management places allow you to pay rent with a credit card. There is an additional fee for this option. Not sure if that is an option here and I would not recommend regularly paying rent with a credit card. Another is credit card cash advance.
Another option is to see city/county has a eviction prevention program if they want the money sooner than Friday. I would be surprised though if they don’t let you pay on Friday. I would be surprised they would be able to legally evict you this quickly too. It’s only the 10th.
Really you should call them and tell them what’s going on.
This won't help your immediate crisis - but - I strongly recommend you go to [www.nfcc.org](http://www.nfcc.org) (National Foundation for Credit Counseling) and connect with a nonprofit counseling agency near you to help you sort out your finances and get you on a sustainable path.
I spent 20 years working for an NFCC-affiliated nonprofit - I can tell you that credit and budget counseling absolutely works. We had folks come to us with huge debt, got it paid down, and ended up also being first-time homebuyers. It takes time, and you have to be committed, but it works.
Avoid payday lenders at all costs - it is a cycle that is very hard to break.
Best wishes to you!
Just call your landlord and tell them you are having a bank issue and will make payment on Friday. No need to provide additional detail. Unless they have given you a "5 days pay or quit" notice prior to today you should be fine. In most states eviction is also a fairly lengthy process, that doesn't start until after the notice period, with a number of stages where you can remedy the situation by paying amounts owed plus late fees. It's not like the sheriff is going to show up and kick you out the day after the rent was due. In VA, for example, it's a 2 to 4 month process.
I had a tenant for years who paid late. They always paid between the 6th and 10th day of the month, but I learned to live with it because while their payment always came late, it always came. Bonus, they spent their own money on beautification of the grounds.
If you let someone live in your property long enough, a good tenant will want to make it feel more homey, and I'm alright with that to an extent.
As someone who has rented properties before: if I own the property you'll get a full pass just for communicating. If I manage the property there'll be a late fee.
The late fee will be \*less\* than any loan interest.
I used to have to call and old landlord occasionally to remind him to cash my checks because he hadn't 3 weeks after I paid. As others have said, call him. Some may be strict but as long as you've paid on time in the past I think you will be fine. We all run into life at one time or another. Maybe give him the $100 in good faith first so it shows you are offering something and not just trying to run out. Chances he'll just wait and take the full amount.
That and man, $900 rent. Cheapest I could find was $2200 in my area before I bought my house last year.
There are apps like Dave, Empower, Brigit and Earnin that are advance paycheck loans with zero % interest rates (they just have fees between $1-$10). Between the 3, you may be able to get the $700. They just pull the full amount you borrowed back out of your bank account on your next payday.
I would recommend the advice of just calling your landlord and explaining the situation first, if that doesn't work, then you can try those apps. I wouldn't take a traditional payday loan because those usually have crazy interest rates.
Ever donated plasma? A lot of places have bonuses for first few times donating, could help if you find yourself in the situation with checks hitting after rent is due. Helps me get groceries and gas when waiting to get paid.
Want to keep your landlord happy and not stressing over you?
"Hi Landlord, I had an unexpected personal expense in life that took all my available funds. I apologize but I cannot make the full payment today. I get paid on Friday and I will be able to pay in full then and I was hoping you could accommodate. Again, I apologize for this inconvenience and I am more than happy to pay a late fee. This should be a one time thing. Could you please let me know what the late fee is so I can add it to the total this Friday? Thank you!"
95% chance your landlord appreciates how you handled it and waves the late fee.
If you have a corporate landlord, they might not have power to waive the fee as per company policy, but the letter will at least stop them from beginning the eviction paperwork. You'd be surprised how many corporate places start the paperwork after being even just 3 days late.
Your lease likely had verbage about late fees btw.
I dont understand? So you submitted your rent payment even though the money was not in there? you say in another comment you account went positive and it rejected the payment. Your post says you have $200 in the bank. So where did the rent money go? Or were you expecting your bank to cover a $700 overdraft?
This is something I don't quite understand. There's a lot of answers that feed OP a fish, but none teaching OP how to fish. Where is their rent money?
If OP gets paid every two weeks and is getting paid on 6/14, there's some slightly uncomfortable subtext to this post. That means they also would have been paid on 5/31. Which means they not only somehow missed paying rent when they were paid the day before it was due, but they should have had extra money last month compared to a usual month's budget. There could be some other huge problems here.
Your not going to get evicted for one payment being less than a week late. But you've got to get your stuff in order so your future finances are order. You can't live constantly a week behind on bills.
JFC just call the landlord & explain the situation, communication is key! Or don’t, and continue asking everyone if that’s the best course of action instead of doing anything 🙄
Please realize that if you get a payday loan for 700, you will owe a lot more than $700 when it's due.
Pay what you have towards rent, even if it's $200. Let your landlord know in writing that you know you're short, and you will pay the rest, including any late fee, when you get paid.
Most landlords don't want to go through an eviction for a tenant that has paid what they owe. They may not renew your lease, but it is expensive and takes a long time to evict someone. In all likelihood your landlord just wants their money.
Damn. I wish I was rich so I can just randomly give someone like you $10k. I do not have any good advice, but I hope things get better for you. It sucks to be broke.
Talk to your landlord. Being a few days late isn’t going to kill him and it’s less hassle for him to accept than to kick you out. Don’t get trapped into a cycle of debt with short term lenders who charge outrageous fees and interest rates.
I would not recommend getting a loan (interest rates). Just ask for a few days. That’s usually not an issue for them as long as it doesn’t become habitual.
Relax! You cannot get evicted for paying your rent a few days late. You can get charged a late fee, but thats it.
Let your landlord know as a courtesy and pay it as soon as possible.
While the current rent seems like your biggest problem, you essentially paid rent knowing you couldn't cover it. How are you covering it in July? Where is all your money going? You need to solve your cash flow issue.
As a show of good faith in your part, give them a post dated check for the balance of rent due PLUS whatever late fees you owe. I was a LL for 25 years and when tenants stepped up and were honest with me and showed me that they had good intentions, I was much more likely to work with them and extend more time to pay rent.
r/borrow
I've never used them, I don't even really understand how it works, and I'm not suggesting them.
It's just a sub I came across recently.
But it seems like they do short term loans.
I agree that just being honest with the landlord and asking for a couple more days is the best idea.
It's a little late for this, but if you had time, you could try opening the Bilt card, which lets you pay rent via CC without fee (basically gives you a fake checking account number to put, they pay the property, you pay your CC bill on a more flexible schedule). Also gives 1% back, so you get at least a few bucks back.
I doubt they're going to evict you. Probably going to try to collect a bunch of fees, and maybe send you to collections if you don't pay up. Evictions take a long time, and are probably a headache they prefer to avoid.
Ask a family member for an interest free bridge loan. Basically they Venmo/Zelle/Cashapp you $700 and you promise to pay it back on Friday (enabling you to pay your rent, since you already have $200 in the bank). Explain you have the money, it just hasn't arrived yet. Idk if you're fortunate enough to have family members you can reach out to help you but hopefully you do.
Alternatively, ask your landlord if they will accept Flex Pay on rent. It allows you to pay your rent in two chunks. But the benefit to the landlord is Flex pays them 100% of the rent on the 1st payment, even if you never pay the 2nd payment. And it's only $15 a month and a 1% fee to use Flex, and no "late fees", you just can no longer use it until you pay off the past balance.
Be on top of your bank balance even if you have to check it every morning on your app. Having touy LL find out you dont have sufficient funds is far worse than you asking for more time. Ignorance on your balance is not doing you any good.
That said, like others said, ask for more time until Friday. Offer to pay a late fee for you inconveniencing them. A loan can take days to get approved, so its not worth their time. DO NOT USE A PAYDAY LOAN EVER.
Then have your next month's rent put aside into a different account always. No booze, no partying, no Door dash, no eating out, rent, roof over you head = #1
Slowly build up a cushion in your separate account, add to it every check. Eventually you should have a goal to have 6 months rent plus utilities in that account. Yes, its a lot but if you get laid off, hurt, in jail, etc, you have $$ for rent and your LL will love you.
Definitely speak to your landlord. If you have a good record of paying on time I’m sure they would be okay with delayed payment. The worst thing that could happen is you pay a late fee.
I’m a landlord and while technically in the lease I describe late fees, I never collect and am always flexible about rent. I even let my tenants know if they have immediate expenses to take care of those first. If you have an individual as a landlord I don’t see why they wouldn’t work with you if you have a good history with them. Don’t dig yourself into an unnecessary hole.
after you call and get a CONFIRMED AGREEMENT TO BE LATE AND THEN YOU PAY YOUR RENT AND ANY LATE FEES REQUIRED, HERE IS WHAT I RECOMMEND:
1. ask your landlord if there is a way for you to send your payment automatically. this means you are going to then be liable for any future negative funds balance to your bank or credit card/debit. Some banks offer a limited overdraft protection. In the best scenario this is accomplished by having an amount of savings in a second account with the same bank that can be used to offset any over draft. UNDERSTAND THE TERMS OF THIS SETUP. CLearly.
2. enroll yourself in some sort of personal financial planning education program. Don't be shy about it. MANY MANY PEOPLE are not very good at all with money and establishing a budget. The stats are clear about this reality: with the highest number of people holding the highest amount of personal debt ever in US history, clearly, spending plus a lack of financial responsibility COMBINED with the highest real inflation that this generation could not possibly have been prepared for, well, the numbers speak for itself: you need to be really really disciplined and watch your money carefully. Otherwise, things are going to get much worse for you. (speaking generally to everyone in this generation and even my own...(60 years old here).
3. Bite the bullet and start looking for a better paying job, and while you are doing that, get second gig job that will help you create more cushion in your life. Putting some money into that savings account for a rainy day is a very smart idea, plus you want to start saving and investing as soon as possible. Time is either your friend, or your enemy. Make the most of the time that you have when you are earning: earn as much as you can and save and invest as much as you can.
4. some credit and credit spending is okay and normal, but try to avoid credit as much as possible. it's a simple question: do I have the cash to buy this? yes or no. If you do not have the cash to spare, then you should not be using credit to buy. It's very irresponsible and a very bad habit to spend on credit as a primary way to purchase. I like to think of credit cards as a emergency last resort decision. Car repairs, unexpected expenses, etc.
Never get yourself in payday trap. Offer a 100$ pay now and tell the landlord to delay 4 days till you have the paycheck.
You can also borrow some of your friend for 4 days if someone is willing to do so. Just dont get in to payday ever!
Don’t get evicted, don’t ignore it, do what you can with temp jobs, and keep your head up.
Easy to get down, just keep working and you’ll dig yourself out soon enough
What state? Id say dont pay the rent let the landlord lnow you gonna be late , most state should protect you from being evicted and the landlord should be understanding
Ive been through lots of these situations, currently going through it now, you will be ok, I get paid friday as well, but I owe already or I would try to help, anything changes i will reach out
Not that I support this, but check the renters protection where you live, you usually can’t evict a tenant for non-payment immediately even if the tenant is cooperative.
Some places also have rent banks which provide loans to tenants in these kind of situations.
You have already reached out, but if they are assholes you should know your rights.
Beg your landlord to take your rent on Friday.
Pay her and thank her profusely right away on Friday. Tell her you'll never be late again.
Don't be late again.
Do you have a grace period for rent?
If not and you’ve never been late before, I would call your landlord to ask if you can pay $200 today and the rest on Friday. They may be willing to do it as a one time courtesy.
You know payday loans have predatory interest rates, right? You’re going to owe way more than $700 even if you pay it back right away.
Ask landlord for more time. Say you’ll hand deliver on Friday. Don’t get a loan. Always keep as much money in your account as you can. Never put bills above your wellbeing. Took me a long time to understand that. A few days will not make a difference. Short term loan will cost you hundreds in fees. Just let your landlord know it will be late.
*edited due to insufficient funds, call landlord and apologize that you made a mistake and will bring cash payment on Friday.
Like others have said, talk to your landlord.
Long term, consider if you can afford this place, or if you need to downgrade to a less expensive place, if you can find one, and if your landlord would let you out early without penalty because of your finances.
Note: I’m making assumptions based on current bank account, paycheck, and rent due.
At all cost, avoid taking a Payday lone. They are predatory lenders and once you fall into the cycle of taking payday loans it is vey hard to break free.
And 90% of non corporation normal landlords with let's say 3 or less properties will be willing to work with you! My tenant had the bank put a hold on his account when he attempted to Zelle me first months rent. Took 10 days to remove the hold. Just took some communication. Last thing I want is to charge him a late fee, or worse evict. I either have a pissed off tenant or NO tenant. The money showed up, he's happy, I'm happy, life moves on.
You should research housing rights legal aid organizations in your area. They will know about any temporary assistance grants to help with a rent payment. They can also tell you what the landlord has to do to evict you which is generally a lot more than just telling you you are overdue on rent.
landlords these days don’t want to make agreements or special arrangements. i know this from 13 years of related professional experience. get help from a renters rights or housing rights organization who can point you to assistance
Come up with an excuse, say your bank account is locked until the day you got paid due to an unverified charge something that’s realistic so your landlord will be understanding… it’s only a few days
Apply for an overdraft on your chequing account. Your score sucks but they might give you the bare minimum, like 500$ or something.
I don’t think a loan or anything else would come quick enough to pay by Friday.
A lot of the time corporate landlords dont even consider rent to be late unless it’s X days late.
The last place I rented, IIRC, you would get a reminder after 3 days and a late fee after 7 days.
I would be surprised if this is even a problem. Most likely scenario is they call you back and say “Friday is fine, thanks for letting us know”
The eviction process takes months and it’s hugely expensive so that will not happen.
There could be other consequences like if it becomes a pattern they could refuse to renew your lease next year.
Do everything and anything you can to avoid what I am assuming is a payday loan. You might think you can just pay it off in a few days but will just set you on a mental cycle of being able to access quick cash when needed. Eventually you wont be able to pay it back (not because of you but because its the nature of the product) and you will get hooked in their debt cycle and itl be thousands of dollars before you're out.
Just talk to the landlord and let them know whats going on, which I see you did. Work on getting that credit score into the 700s so you can access a small line of credit for emergencies like these.
In addition to what others have said, see if your landlord is willing to take bi-weekly payments on payday Friday (assuming you get paid that way), with a bank auto-draft. It will be easier on both of you, and that autodraft will give them some comfort that you’re serious about staying current. Make it clear that you’re willing to pay the same equivalent annual amount - meaning each bi-weekly payment will be a bit more than half your current monthly amount.
I’ve done this before as a landlord, and it was easier all around. But larger or less flexible landlords won’t want to do it.
It’s worth an ask.
Don’t take out a loan do nothing like, hopefully you have talked to someone in the leasing office find out if you can make a partial payment of course this will depend on your rental history with them hopefully it’s great! And pay the balance on the 14th if pronto! And know that your rent is due no excuses unless your very life is on the line. Get your spending under control. If that fails you will have the money soon pay your rent and the late fee and don’t let it happen again.
Definitely contact your landlord and ask for an extension on rent payment until you get paid. Paydays loans are terrible!
After that, I would assess where you spent extra money this month or what caused your account to run low. I know life happens and things are expensive! Try to save an emergency fund the best you can.
Edit: do you work a job you can ask your boss to be paid early?
you won’t get evicted for paying rent a few days after it’s due, late fee at worst. but it’s expensive to evict a tenant, if you’re honest and communicative then you’re good.
And you just signed a new lease? You're fine. Worst thing they will do is ask for the late fee, which is probably less than what you'd pay for a payday loan.
Trust me, this seems much bigger to you than to your landlord. They just saw someone who had an oopsie and is doing everything possible to clean it up quickly. Those are ideal tenants.
Get a secured/unsecured personal payday loan. google places who do them near you, you can get approved for one with a 659 credit score and get it within an hour or two. i just did this about a month ago. i needed 400 extra for rent and went to a place to get an unsecured personal loan about a mile away and left with $700 more within a hour and a half. sometimes the APR’s are tough, but if you are out of options just do what you gotta do and get the loan. shit happens !
Reas your lease. What does it say about late payments? Typically there is just a penalty. But again, talk to landlord ASAP and they may even waive or at least reduce the penalty.
Hi! I would definitely try to work something out with your landlord though because that’s only 4 days away at this point.
If you aren’t able to reach your landlord, I would try a personal loan from a credit union instead of a bank. Otherwise, for the future, I would recommend getting an overdraft line of credit. It’s similar to a credit card, but it’s straight cash when you need and you can pay it back whenever, or make monthly payments. It’s a good back up, if you’re short on cash in this sort of scenario, and better than a payday loan. I only recommend this option as an emergency, and wouldn’t rely on it 24/7.
I am just curious, what convinced you that you shouldn't call your landlord? Did you think you were incriminating yourself? I know landlords have a bit of a reputation, but it is in their best interest to work with you and come to an agreement that does not require any legal action.
Also, you literally just signed a document that tells you what the consequences of paying late or missed payments are and what is considered to be an offense to be evicted over. I definitely advise reading your lease before signing it and you should definitely go read through it now.
I only know California laws, but I highly doubt they can evict you. Here, they need to give you at least a 3 day notice to give you an opportunity to pay.
>Worst case I get evicted
You clearly have no idea how bad it is to get evicted and say that like whoops no biggie, moving on! You don't just get evicted and scoop up another place.
Can you write a check? Maybe drop it off end of day tomorrow. They’ll probably cash it Wednesday and it’ll probably hit your bank by Friday (hopefully). Even if your bank sends it back you should have money by then. Or just have an overdraft and pay the fees
I am not a lawyer but I work for a real estate company that does housing. The eviction process is not an immediate one so call your landlord, see what they can do as a starting point.
Depending on if it's a large company or smaller they may or may not be able to work with you (fair housing, what they do for you they have to do for others and it's easier for smaller companies to accomodate). If they can great if not you'll receive a non-payment notice (usually a notice to pay or quit is what it's called depending on state).
That notice will dictate a timeframe you have to pay, this varies by state as well as if your landlord has a federally backed loan. As long as you're paid before the notice expires you can avoid the rest of the eviction process though it's best to get current as soon as you can.
Hope this helps, best of luck to you
Bro is too busy pasting the same reply over and over he ain't ganna call the LL. In all seriousness though, you seem young enough that you hopefully haven't already gone down the path of life long debt and living paycheck to paycheck. Invest your time in learning financial literacy and communication.
Agree with u/DeluxeXL ask for time.
As for loan? Even though you have a chase account, you have no card with them to borrow against. And even if you did, they would smack you hard with fees. Chase is not your friend. They are not the friendly local "I'll be glad to help you out kinda bank". Like back when our parents were young. Trust me I have three Chase cards with a damn near perfect score AND YET their loan options were STILL at 9.99-15.99%!!! That is just insane/greed from a bank that pays nothing for savings.
So whatever you do, dont get yourself into more debt just to pay off other things. See if you can do a side job for someone? Or heck even try a Go Fund me....you'd be surprised what kind of help you can get from others.
I wish you luck!
Do not sign a payday loan unless your landlord absolutely won’t accept a partial payment now with the rest payable on payday!
It will take months for you to be able to repay a payday/paycheck loan!
If you get evicted, it’ll be very, very difficult for you to find another landlord to rent to you anytime soon! Among other things, you’ll probably need to have 3 months of rent — first and last month’s rent + security deposit equal to 1 month rent.
If you need to scramble to get $700 together, how will you get $2,100?
Talk to your landlord. Maybe they will be nice. Maybe they will add a small late fee. But make sure you make some adjustments to spending so you can pay on time next month. Don’t make the landlord regret giving you a break. And you may need the favor again in the future.
issue with finance is people often don't see the problem until its in their face, however, finance decisions are small and compounding over time. Typically one bad financial decisions doesn't ruin us, but small habits over time. Unfortunately that works in the opposite way too. to get back on the right path also takes time, so simple answer is there is nothing asides from asking for grace from your landlord
Don't take out a loan and get deeper in the hole.
Pay the landlord as soon as you're paid.
Think about your budget and if you can afford this place. Do you need a roommate? Another job? Is there anything you can cut from your budget?
The best thing is to ask your landlord for more time. Waiting 4 more days is cheaper than evicting you and finding a new tenant.
Sometimes the simplest answer is the right one.
As a landlord, I second this. I want you to be honest and communicate. Late fees suck, but so does evicting someone. Cleaning a place up to show it and then leasing it again takes time and money also.
It's amazing how much the interests of landlords and renters align at the end of the day. Renters want a place to live, and landlords want someone to pay them money. Evicting, cleaning, posting, showing, vetting, and signing adds up to big numbers very fast vs getting a call saying, "Hey, I'm behind on the rent because of factors outside of my control, here's my situation, and with pay coming on Friday I'll have cash/check in your hand by the end of the business day this Friday." Sure, you'll note down the late rent and probably charge a late fee since you're behind on your expenses (landlords have bills too). But as long as they follow through and this is a one-off thing, mistakes happen. Move on, and maybe you can call them the week before rent is due to ensure they have the funds to cover rent.
Completely agree. Stuff happens. Be open and honest and make sure it doesn’t “happen” every month. Tip for OP. Pay your rent before you pay ANYTHING else. Always. You can do so much more with a roof over your head. You don’t NEED a car, but you do need a roof.
They won't evict you for 4 days, I wouldn't make a habit of being late. But eviction takes months and they will contact you next week if your still unpaid. They will work with you. Be humble the others here are right your landlord wants to keep you unless your rent is below market but still you have more than 4 days. Relax.
> But eviction takes months It really depends on the state. California is probably months. In Florida, you'd first get a 3 day notice to pay rent or vacate. If you don't pay, the landlord could be there with the sheriff to evict you in about two or three weeks if they follow the right process.
That's quick, pandemic made evictions really hard in pa. It's changing for landlords with easing of court moratorium.
Hi thank you for the advice, I just edited for some additional context that might be important in my situation should i still reach out to landlord?
For lack of sounding boomerish here, CALL them and speak with them and explain the situation. Sending an email or something that may get lost in the shuffle especially if they have multiple properties isn’t a good idea.
Redditors would rather take out a 4000% Apr payday loan than make a phone call
That's ridiculous. I wouldn't go 2000%.
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That's the absolute truth. It's crazy.
This. Talking to someone greases the wheel a lot more than email a lot of the time. It becomes much more personal. Either way though, landlord should be able to forgive one late rent payment if the situation is explained.
People email because it is easier to have the conversation but don’t understand the it is easier to say no to an email but hard to do it face to face for both sides…. Call or speak, no email.
The phone call still lives at the top of the communication pyramid!
what is a call? you mean like texting with the speak-to-write device?
Yeah. Really he should call and then make them reply “confirmed” to a follow-up email.
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None of that is relevant. Talk to your landlord and tell them the situation.
Call them. You'll probably pay a modest late fee that will be dwarfed by whatever the interest on a short term loan would be. (You'd probably have to pay the interest regardless of how fast you paid it back). Some landlords may even give you a one time defferal if you've been a good tenant. People can be understanding, but if you don't communicate they're going to assume that you're dodging them and won't pay.
Try to avoid pay day loans. That can hit your credit score really hard.
Not only TRY to avoid the, avoid them like the fuckign plague. They are designed to be impossible to pay off and a $900 loan can end up costing $3000 easy. Die before you ever get a payday loan.
Yes, still reach out.
Wait - are you short on rent, or did you bounce your rent check? Those are two separate things.
I paid via entering my bank account information. My bank notified my landlord and apartment system notifications notified me this morning my payment was rejected due to insufficeint funds. So payment went through. Money went out of my bank account. Then few days later my account went positive again. Which makes sense now because I got a notification today say the rejected it today.
In the future, its better to call your landlord and work things out than over drafting your account and hoping for the best. The over draft costs them money and it brings into question whether something shady is going on. For context, I'm a landlord. There are tenants out there who take advantage of landlords by faking checks, abusing the courts, and doing all sorts of nonsense. It's well known in our business so we are always concerned we may have a tenant like this. The last one I had cost us over 10 thousand dollars. Communication is key. Don't try to hide what's going on and as others have said, don't take drastic measures (e.g. payday loans) before talking to your landlord first.
Very good advice. I have a GREAT relationship with my landlord. If I am ever gettign down to the wire, I always let them know in advance that Im waiting for my payments to clear so I can Zelle my payment. I also ty to pay early, like a week or at least a few days so they already have $$ in their bank. they love that I put them first.
I will highlight again - bounced payments cost THE LANDLORD too. They also face a fee from their bank when your funds get yanked back. If you send a payment knowing it will bounce, it is a lot less likely they will waive a late fee because that late fee is now allocated in their budget to cover the fee they got for the bounced payment. So sending a payment to get them off your back, knowing it will fail, is a bad move if you want to have any wiggle room with the landlord.
Yep. I've had more than one tenant act surprised when I got upset because they sent me a check they knew wouldn't clear. I told them, just tell me if you can't pay, you're costing me MORE money by having a check bounce that I've got to cover. And tenants wonder why everyone is moving to paying by app isntead.
You should also ask your bank about overdraft protection credit line or option. Maybe there's a fee if it gets used but as long as you pay if off a couple days later that's the only cost to it.
If you make assumptions that the LL got your message, then you need to step up your adulting. Big time. Never assume. Get them on the phone today, now.
I would just explain your trying your best, and you plan to pay. It's better than ducking them then they think your never going to pay.
Reach out to them in person and explain your situation. Technically, you are already in breach of your lease agreement. Ask them understanding and tell them it will be paid in full with penalties on Friday. Worst case scenario they tell you no dice. Most landlords will take your money either way, but the may still choose to file for eviction proceedings. I would see if you could get the exception in writing and ask not to be evicted. There are a lot of tenants that have one time issues, and although the lease agreements and notices are very strict, some landlords will give you a one time pass. Again, you need to talk to them and in person would be ideal.
While I agree you should probably call, it also sounds like you’re panicking for no reason (not judging I do that a lot too, just speaking objectively) the shortest notice they can give you is 5 days and from now to the end of 5 days, you’d have already been paid/paid rent. Hopefully this helps bring you some peace of mind 🤞
at least where i live, they can't even evict for one late payment, just charge an extra fee on the rent for the hassle. at least with OP's ability to pay within three days that is
This, but also, do some serious reflection on why you're in this situation. Income is shitty for everyone, costs are high... But look at all of your transactions on your bank account and ask yourself if there's a way to reduce those expenses. Cell phone, car/truck payments, fast food, and entertainment expenses tend to be the biggest areas of opportunity for most people.
just tell your LL youll be late (tell them you get paid on friday) they will absolutely work with you because if you just plain refuse to pay or leave it is a pain for them to deal with.
Inform your landlord of the situation and say you will have payment in full on Friday. Ask if you should make a partial payment today and that you’ll accept paying the late fee. The landlord may wave if for you for just this one time - unless you rent at a complex then they will definitely not wave the fee.
This exactly. Biggest thing is avoid it becoming a pattern.Even at the big complexes sometimes they work with you if they are smart. A good tenant is worth a lot. Now if this become a monthly habit that is a different problem and yes even I would more than likely not want to renew your lease as remember even I as a landlord have bills to pay on the house and I can not have them be late
I'm a landlord. Do exactly this!
Payday loan is the beginning of downward spiral and will cost you WAY more even in the short run. Call your landlord, on the phone like a human being, tell them exactly what you told us. Offer $100 now and get the rest next Friday. Put a little away this month to get ahead of next month and go lean this month to catch up. Things will get better.
Yeah I've gotten hooked on the payday loan trap back during some rough years in my past. It's good for temporary relief, but if you live paycheck to paycheck then what happens is you have to keep taking out payday loans every week, 2 weeks, whatever your pay cycle is. And next thing you know, you're paying back a payday loan only to turn around and take out a new one during the same visit just to float and you realize, all you've really accomplished at this point is you're giving these motherfuckers $80, $100, $150, I don't even know what the cut would be these days. I haven't fucked with this since around 2008 or 2009. I just know all I really got was less out of my pay, but couldn't afford not to keep taking one out until I finally lost my goddamn mind and said fuck it, let shit start bouncing. I do not advise the payday loan trap, lol. When it becomes a regular occurrence, you'll realize all you're really doing at this point is exchanging something like a $250 check in exchange for like a $150 cash stack or check. Fuck that.
The avg payday loan is EXTREMELY predatory, with 400%-900% interest! You could literally end up paying thousands of dollars for a small payday loan, originallyless than a thousand dollars.
In case anyone's doubting this: https://coascenters.howard.edu/lured-debt-how-payday-loans-and-paycheck-apps-exacerbate-financial-struggles-underserved and even worse how payday lenders target more poverty-stricken areas: https://dfpi.ca.gov/2016/12/07/payday-loan-storefronts-concentrated-in-high-poverty-areas-dbo-research-brief-shows/
How is this even legal. 400-900 percent is criminal. Isn't this no different than price gouging
They pretty clearly disclose the terms of the loan. Payday loans are high interest because they are not secured and they do not do credit checks. Some major fraction of the loans do not get paid back, so they charge high interest. Don't take the loan if you don't agree with the terms.
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> They pretty clearly disclose the terms of the loan. And people getting a payday loan are financially literate people who carefully look over the terms before deciding if it's right for them.
"Don't take the loan if you don't agree with the terms." I agree. And I wouldn't agree to it. BUT, growing up with a single mom who had already filed bankruptcy and had no way to feed us, I saw her enter into a few payday loan agreements. She didn't want to, she worked three jobs and desperately wanted out of the situation she was in and knew the loans had awful terms but when you look at your kids and want to feed them? Your opinion changes. Aside from that, some people just don't understand how interest works and these payday companies know that which also falls under the term "predatory".
Payday loans aren’t legal in 14 states and DC. https://en.m.wikipedia.org/wiki/Payday_loans_in_the_United_States
It's done by charging fees for the service. For example, to borrow $100 you pay a $15 fee. Seems reasonable, except 0.15 \* 26 = 390% without compounding.
OP will do anything to not talk with the landlord
For real. People forget, unless you are dealing with a property management company, your landlord is human, talk to them lol.
Right out of school I was late by a month every month with a property management company. I just talked to them once a month and they never did anything, not even a late charge.
im a property manager and i always prefer communication. we dont charge late fees and we wont send a rent demand if you tell me you'll be paying on the 15th or something.
I spent the last 3 weeks calling, emailing, and leaving messages to my old property manager to discuss a security deposit issue. He ignored me. Then I filed an arbitration claim against him, he emailed me back in 15 minutes.
In general property managers suck, but its also a shitty job where people check out after like a year. You did the right thing tho.
My family owns a large seniors-only rental property, and we have a management company do the day-to-day business. We do charge late fees, but our policy is to work with the resident as much as possible until there's no other recourse than eviction. We hate evicting people. We often waive late fees if the resident tells us they're going to be late a few days before the due date. Before Covid we actively directed our lower income residents to assistance programs. During Covid we actively directed our lower income tenants to the assistance programs. After Covid we actively direct our lower income residents to assistance programs. We let a few tenants pay in the middle of the month because that's when their pension checks hit, and we don't charge them a late fee. Our annual turnover is extremely low. Usually it's because the resident dies. We have one resident who's been there since the property opened in 1963.
You won’t be getting evicted if your payment is late once. Eviction is expensive and a huge headache so they won’t want to do that. Everyone telling you to talk to your LL is right. Do that. DO NOT even consider payday loans. Literally never consider a payday loan for any reason. Credit cards are better than those.
Literally that! Before the payday loan, you are in deep shit and might get evicted. After the payday loan, you are in even deeper shit, will almost certainly get evicted, and stand a good chance of having to declare bankruptcy and take years to dig yourself out of that hole. Whatever trouble you're in right now can only get worse when you get a predatory loan. The only thing that is good is that you buy yourself a few extra days before the shit truly hits the fan.
Give him $150 as a goodwill gesture with thr promise to pay off on Friday when check hits. Don't get a payday loan. The interest will kill you. Also, and it's not a joke, look into selling plasma. I know lots of people that do and make a good size of extra cash.
Truth to that, a co-worker of mine did that for a good while. I think the only real reason he stopped is the particular place he was hitting up reduced their hours of operation ever since covid, and it's less convenient for him to hit them up around his work hours. Dude works a 2nd job over the weekends, so he can't even hit them up on a Saturday or something lol. I want to say back in the day he was hitting them up 2x a week? There's definitely a period of days they make you wait before they let you come back and give more, but he was going there on the earliest day he could like clockwork lol.
Like the others have said, speak to your landlord. Speak, don't email, for God sake don't text. Call them and admit you're short. Offer to give a good faith payment now. Don't give them all your money, you gotta eat, maybe half with the promise of the rest in 4 days. Don't make a habit of it. Edit: your credit score is meaningless in this context
I mean I can't speak for every landlord but I much prefer a text or an email like nothing you say to me and voice is going to change my opinion I'm just going to say okay and then if you keep your word now I trust you and if you don't keep your word now I don't trust you it's just that simple
Could be an age thing. I'm on the line, a text would be okay but a call would be much more meaningful. The older your landlord is the less likely a text is appropriate.
A text/email also provides a documentation of the exchange. I would probably do both to be safe. And then ask what the landlord prefers.
In those situations I usually tell the person over the phone, we can follow up with a text or email just to confirm but i need to get it to the front of your mind today.
I'm a landlord. Zero chance I would evict you for this. Especially if you came to me first and explained the situation. I might send you home with some snacks so you have a little extra food.
I think you are way over stressing the situation, payday loans are terrible. No need to even consider in my opinion. Like everyone else has said, reach out to the landlord and explain the situation, if you’ve been living there 4 years and only paid late a handful of times you sound like a great tenant to me, and the idea of eviction shouldn’t even be on the table for them
In my first place that I ever rented, I was rather worried about getting evicted if I was late even a single hour. So, I always made sure to drop off my check the day before no later than midnight. I finally asked the building manager. He told me, that I was good. I had never been late. He wouldn't even think of evicting me. On the other hand, he had another tenant who was in a successful sales position and was paid almost entirely on commission. As a result, he'd pay great half the year, and then he'd be late by several months at other times. The manager said he hated having to deal with this, but he always smoothed things over with the landlord. Just not worth the hassle of an actual eviction, and the money would always come in in the end. This was rather eye-opening to learn.
Never ever get a payday loan. Best option: Communicate with your landlord that you’ll have the funds friday and ask what you’ll owe with the late fee. If it is a property management company then there will be a late fee. Make sure this ok with them. A possible option if they want the money today or they will start eviction proceedings is a credit card. Some property management places allow you to pay rent with a credit card. There is an additional fee for this option. Not sure if that is an option here and I would not recommend regularly paying rent with a credit card. Another is credit card cash advance. Another option is to see city/county has a eviction prevention program if they want the money sooner than Friday. I would be surprised though if they don’t let you pay on Friday. I would be surprised they would be able to legally evict you this quickly too. It’s only the 10th. Really you should call them and tell them what’s going on.
This won't help your immediate crisis - but - I strongly recommend you go to [www.nfcc.org](http://www.nfcc.org) (National Foundation for Credit Counseling) and connect with a nonprofit counseling agency near you to help you sort out your finances and get you on a sustainable path. I spent 20 years working for an NFCC-affiliated nonprofit - I can tell you that credit and budget counseling absolutely works. We had folks come to us with huge debt, got it paid down, and ended up also being first-time homebuyers. It takes time, and you have to be committed, but it works. Avoid payday lenders at all costs - it is a cycle that is very hard to break. Best wishes to you!
Just call your landlord and tell them you are having a bank issue and will make payment on Friday. No need to provide additional detail. Unless they have given you a "5 days pay or quit" notice prior to today you should be fine. In most states eviction is also a fairly lengthy process, that doesn't start until after the notice period, with a number of stages where you can remedy the situation by paying amounts owed plus late fees. It's not like the sheriff is going to show up and kick you out the day after the rent was due. In VA, for example, it's a 2 to 4 month process.
Landlord here - “talk to your landlord” should always be your first move. They might let the date slip without penalty, just don’t make it a habit.
I had a tenant for years who paid late. They always paid between the 6th and 10th day of the month, but I learned to live with it because while their payment always came late, it always came. Bonus, they spent their own money on beautification of the grounds. If you let someone live in your property long enough, a good tenant will want to make it feel more homey, and I'm alright with that to an extent.
Well once they establish 6th and the 10th, is it really late at that point? If anything, it'd be early if he paid on the first.
As someone who has rented properties before: if I own the property you'll get a full pass just for communicating. If I manage the property there'll be a late fee. The late fee will be \*less\* than any loan interest.
I used to have to call and old landlord occasionally to remind him to cash my checks because he hadn't 3 weeks after I paid. As others have said, call him. Some may be strict but as long as you've paid on time in the past I think you will be fine. We all run into life at one time or another. Maybe give him the $100 in good faith first so it shows you are offering something and not just trying to run out. Chances he'll just wait and take the full amount. That and man, $900 rent. Cheapest I could find was $2200 in my area before I bought my house last year.
There are apps like Dave, Empower, Brigit and Earnin that are advance paycheck loans with zero % interest rates (they just have fees between $1-$10). Between the 3, you may be able to get the $700. They just pull the full amount you borrowed back out of your bank account on your next payday. I would recommend the advice of just calling your landlord and explaining the situation first, if that doesn't work, then you can try those apps. I wouldn't take a traditional payday loan because those usually have crazy interest rates.
Ever donated plasma? A lot of places have bonuses for first few times donating, could help if you find yourself in the situation with checks hitting after rent is due. Helps me get groceries and gas when waiting to get paid.
Want to keep your landlord happy and not stressing over you? "Hi Landlord, I had an unexpected personal expense in life that took all my available funds. I apologize but I cannot make the full payment today. I get paid on Friday and I will be able to pay in full then and I was hoping you could accommodate. Again, I apologize for this inconvenience and I am more than happy to pay a late fee. This should be a one time thing. Could you please let me know what the late fee is so I can add it to the total this Friday? Thank you!" 95% chance your landlord appreciates how you handled it and waves the late fee. If you have a corporate landlord, they might not have power to waive the fee as per company policy, but the letter will at least stop them from beginning the eviction paperwork. You'd be surprised how many corporate places start the paperwork after being even just 3 days late. Your lease likely had verbage about late fees btw.
I dont understand? So you submitted your rent payment even though the money was not in there? you say in another comment you account went positive and it rejected the payment. Your post says you have $200 in the bank. So where did the rent money go? Or were you expecting your bank to cover a $700 overdraft?
This is something I don't quite understand. There's a lot of answers that feed OP a fish, but none teaching OP how to fish. Where is their rent money? If OP gets paid every two weeks and is getting paid on 6/14, there's some slightly uncomfortable subtext to this post. That means they also would have been paid on 5/31. Which means they not only somehow missed paying rent when they were paid the day before it was due, but they should have had extra money last month compared to a usual month's budget. There could be some other huge problems here.
Your lease states your late fees. Good to communicate that you will pay on Friday with the total due.
Your not going to get evicted for one payment being less than a week late. But you've got to get your stuff in order so your future finances are order. You can't live constantly a week behind on bills.
JFC just call the landlord & explain the situation, communication is key! Or don’t, and continue asking everyone if that’s the best course of action instead of doing anything 🙄
Please realize that if you get a payday loan for 700, you will owe a lot more than $700 when it's due. Pay what you have towards rent, even if it's $200. Let your landlord know in writing that you know you're short, and you will pay the rest, including any late fee, when you get paid. Most landlords don't want to go through an eviction for a tenant that has paid what they owe. They may not renew your lease, but it is expensive and takes a long time to evict someone. In all likelihood your landlord just wants their money.
Damn. I wish I was rich so I can just randomly give someone like you $10k. I do not have any good advice, but I hope things get better for you. It sucks to be broke.
Talk to your landlord. Being a few days late isn’t going to kill him and it’s less hassle for him to accept than to kick you out. Don’t get trapped into a cycle of debt with short term lenders who charge outrageous fees and interest rates.
Yes. Ask to post late. Make A good plan for how to pay the July rent....
How much CC debt are you carrying that you can only pay $100 on the card?
low credit availablitly. cant qualify for better cards until my credit score is above fair.
That would probably also be important information as it makes traditional loans very unlikely.
I would not recommend getting a loan (interest rates). Just ask for a few days. That’s usually not an issue for them as long as it doesn’t become habitual.
Upstart will pay out quickly and was decent enough deal 6 years ago when I did it. Last payment is this month.
Talk to your landlord. A $700 loan you get today will be a $900 or more loan by the time Friday comes.
Relax! You cannot get evicted for paying your rent a few days late. You can get charged a late fee, but thats it. Let your landlord know as a courtesy and pay it as soon as possible.
While the current rent seems like your biggest problem, you essentially paid rent knowing you couldn't cover it. How are you covering it in July? Where is all your money going? You need to solve your cash flow issue.
As a show of good faith in your part, give them a post dated check for the balance of rent due PLUS whatever late fees you owe. I was a LL for 25 years and when tenants stepped up and were honest with me and showed me that they had good intentions, I was much more likely to work with them and extend more time to pay rent.
r/borrow I've never used them, I don't even really understand how it works, and I'm not suggesting them. It's just a sub I came across recently. But it seems like they do short term loans. I agree that just being honest with the landlord and asking for a couple more days is the best idea.
It's a little late for this, but if you had time, you could try opening the Bilt card, which lets you pay rent via CC without fee (basically gives you a fake checking account number to put, they pay the property, you pay your CC bill on a more flexible schedule). Also gives 1% back, so you get at least a few bucks back. I doubt they're going to evict you. Probably going to try to collect a bunch of fees, and maybe send you to collections if you don't pay up. Evictions take a long time, and are probably a headache they prefer to avoid.
Ask a family member for an interest free bridge loan. Basically they Venmo/Zelle/Cashapp you $700 and you promise to pay it back on Friday (enabling you to pay your rent, since you already have $200 in the bank). Explain you have the money, it just hasn't arrived yet. Idk if you're fortunate enough to have family members you can reach out to help you but hopefully you do. Alternatively, ask your landlord if they will accept Flex Pay on rent. It allows you to pay your rent in two chunks. But the benefit to the landlord is Flex pays them 100% of the rent on the 1st payment, even if you never pay the 2nd payment. And it's only $15 a month and a 1% fee to use Flex, and no "late fees", you just can no longer use it until you pay off the past balance.
Be on top of your bank balance even if you have to check it every morning on your app. Having touy LL find out you dont have sufficient funds is far worse than you asking for more time. Ignorance on your balance is not doing you any good. That said, like others said, ask for more time until Friday. Offer to pay a late fee for you inconveniencing them. A loan can take days to get approved, so its not worth their time. DO NOT USE A PAYDAY LOAN EVER. Then have your next month's rent put aside into a different account always. No booze, no partying, no Door dash, no eating out, rent, roof over you head = #1 Slowly build up a cushion in your separate account, add to it every check. Eventually you should have a goal to have 6 months rent plus utilities in that account. Yes, its a lot but if you get laid off, hurt, in jail, etc, you have $$ for rent and your LL will love you.
I don't even think you can evict someone over 4 days late.
Definitely speak to your landlord. If you have a good record of paying on time I’m sure they would be okay with delayed payment. The worst thing that could happen is you pay a late fee.
90% of private landlords won’t make a big deal about being late a few days, unless it happens often
I’m a landlord and while technically in the lease I describe late fees, I never collect and am always flexible about rent. I even let my tenants know if they have immediate expenses to take care of those first. If you have an individual as a landlord I don’t see why they wouldn’t work with you if you have a good history with them. Don’t dig yourself into an unnecessary hole.
Write a check dated for the 15th with a $100 bill included in the envelope.
When you owe money, communication goes a long way. You did right.
Call landlord and respectfully explain your situation. Don’t just ask for an extension, discuss the facts quickly like two adults.
after you call and get a CONFIRMED AGREEMENT TO BE LATE AND THEN YOU PAY YOUR RENT AND ANY LATE FEES REQUIRED, HERE IS WHAT I RECOMMEND: 1. ask your landlord if there is a way for you to send your payment automatically. this means you are going to then be liable for any future negative funds balance to your bank or credit card/debit. Some banks offer a limited overdraft protection. In the best scenario this is accomplished by having an amount of savings in a second account with the same bank that can be used to offset any over draft. UNDERSTAND THE TERMS OF THIS SETUP. CLearly. 2. enroll yourself in some sort of personal financial planning education program. Don't be shy about it. MANY MANY PEOPLE are not very good at all with money and establishing a budget. The stats are clear about this reality: with the highest number of people holding the highest amount of personal debt ever in US history, clearly, spending plus a lack of financial responsibility COMBINED with the highest real inflation that this generation could not possibly have been prepared for, well, the numbers speak for itself: you need to be really really disciplined and watch your money carefully. Otherwise, things are going to get much worse for you. (speaking generally to everyone in this generation and even my own...(60 years old here). 3. Bite the bullet and start looking for a better paying job, and while you are doing that, get second gig job that will help you create more cushion in your life. Putting some money into that savings account for a rainy day is a very smart idea, plus you want to start saving and investing as soon as possible. Time is either your friend, or your enemy. Make the most of the time that you have when you are earning: earn as much as you can and save and invest as much as you can. 4. some credit and credit spending is okay and normal, but try to avoid credit as much as possible. it's a simple question: do I have the cash to buy this? yes or no. If you do not have the cash to spare, then you should not be using credit to buy. It's very irresponsible and a very bad habit to spend on credit as a primary way to purchase. I like to think of credit cards as a emergency last resort decision. Car repairs, unexpected expenses, etc.
There's a lot that is missing here. How did you pay rent before? What happened that all of the sudden you have almost nothing in your bank account?
Never get yourself in payday trap. Offer a 100$ pay now and tell the landlord to delay 4 days till you have the paycheck. You can also borrow some of your friend for 4 days if someone is willing to do so. Just dont get in to payday ever!
How are you going to pay next month?
Don’t get evicted, don’t ignore it, do what you can with temp jobs, and keep your head up. Easy to get down, just keep working and you’ll dig yourself out soon enough
What state? Id say dont pay the rent let the landlord lnow you gonna be late , most state should protect you from being evicted and the landlord should be understanding Ive been through lots of these situations, currently going through it now, you will be ok, I get paid friday as well, but I owe already or I would try to help, anything changes i will reach out
Not that I support this, but check the renters protection where you live, you usually can’t evict a tenant for non-payment immediately even if the tenant is cooperative. Some places also have rent banks which provide loans to tenants in these kind of situations. You have already reached out, but if they are assholes you should know your rights.
It’ll cost you a bit more but you can get a short term loan. Lots of apps that do small up to $500 payday loans. Not optimal but good in a pinch.
You will absolutely not get evicted over a few days. It generally takes MONTHS for the eviction process. You will be fine
Sneak on out the back. Head to the bar. Order 1 bourbon. 1 scotch. And 1 beer.
Everybody funny. Now you funny too.
I'm a landlord. I would want you to call me and explain to me the situation. It's not a problem, but don't make it a habit. All is good.
What's the penalty for late rent?
Increase income Decrease spending Those are your two options. The 2nd is almost always easier, even though people tend to focus on #1. Good luck pal!
Beg your landlord to take your rent on Friday. Pay her and thank her profusely right away on Friday. Tell her you'll never be late again. Don't be late again.
Do you have a grace period for rent? If not and you’ve never been late before, I would call your landlord to ask if you can pay $200 today and the rest on Friday. They may be willing to do it as a one time courtesy. You know payday loans have predatory interest rates, right? You’re going to owe way more than $700 even if you pay it back right away.
Ask landlord for more time. Say you’ll hand deliver on Friday. Don’t get a loan. Always keep as much money in your account as you can. Never put bills above your wellbeing. Took me a long time to understand that. A few days will not make a difference. Short term loan will cost you hundreds in fees. Just let your landlord know it will be late. *edited due to insufficient funds, call landlord and apologize that you made a mistake and will bring cash payment on Friday.
Like others have said, talk to your landlord. Long term, consider if you can afford this place, or if you need to downgrade to a less expensive place, if you can find one, and if your landlord would let you out early without penalty because of your finances. Note: I’m making assumptions based on current bank account, paycheck, and rent due.
Asking for four days is best. If you can’t, apply for the BILT card. You’ll be able to pay now via ACH
At all cost, avoid taking a Payday lone. They are predatory lenders and once you fall into the cycle of taking payday loans it is vey hard to break free.
Don’t get a loan. You’re better off paying what you can and then pay a late fee to landlord
Call your landlord, don't play with payday loans just call, it's cheaper to keep you a tenant then it is to evict you then find a new tenant.
And 90% of non corporation normal landlords with let's say 3 or less properties will be willing to work with you! My tenant had the bank put a hold on his account when he attempted to Zelle me first months rent. Took 10 days to remove the hold. Just took some communication. Last thing I want is to charge him a late fee, or worse evict. I either have a pissed off tenant or NO tenant. The money showed up, he's happy, I'm happy, life moves on.
Just pay the late fee and don’t get a loan. That would be irresponsible
You should research housing rights legal aid organizations in your area. They will know about any temporary assistance grants to help with a rent payment. They can also tell you what the landlord has to do to evict you which is generally a lot more than just telling you you are overdue on rent.
landlords these days don’t want to make agreements or special arrangements. i know this from 13 years of related professional experience. get help from a renters rights or housing rights organization who can point you to assistance
Come up with an excuse, say your bank account is locked until the day you got paid due to an unverified charge something that’s realistic so your landlord will be understanding… it’s only a few days
Apply for an overdraft on your chequing account. Your score sucks but they might give you the bare minimum, like 500$ or something. I don’t think a loan or anything else would come quick enough to pay by Friday.
A lot of the time corporate landlords dont even consider rent to be late unless it’s X days late. The last place I rented, IIRC, you would get a reminder after 3 days and a late fee after 7 days. I would be surprised if this is even a problem. Most likely scenario is they call you back and say “Friday is fine, thanks for letting us know” The eviction process takes months and it’s hugely expensive so that will not happen. There could be other consequences like if it becomes a pattern they could refuse to renew your lease next year.
Do everything and anything you can to avoid what I am assuming is a payday loan. You might think you can just pay it off in a few days but will just set you on a mental cycle of being able to access quick cash when needed. Eventually you wont be able to pay it back (not because of you but because its the nature of the product) and you will get hooked in their debt cycle and itl be thousands of dollars before you're out. Just talk to the landlord and let them know whats going on, which I see you did. Work on getting that credit score into the 700s so you can access a small line of credit for emergencies like these.
In addition to what others have said, see if your landlord is willing to take bi-weekly payments on payday Friday (assuming you get paid that way), with a bank auto-draft. It will be easier on both of you, and that autodraft will give them some comfort that you’re serious about staying current. Make it clear that you’re willing to pay the same equivalent annual amount - meaning each bi-weekly payment will be a bit more than half your current monthly amount. I’ve done this before as a landlord, and it was easier all around. But larger or less flexible landlords won’t want to do it. It’s worth an ask.
Do NOT take out a loan - it will most likely be predatory and will cost 4x by the time you are done paying it off
dont get a loan. Just tell the landlord you'll have the full rent on friday. pay the late fee if there is one and its time to start budgeting.
Don’t take out a loan do nothing like, hopefully you have talked to someone in the leasing office find out if you can make a partial payment of course this will depend on your rental history with them hopefully it’s great! And pay the balance on the 14th if pronto! And know that your rent is due no excuses unless your very life is on the line. Get your spending under control. If that fails you will have the money soon pay your rent and the late fee and don’t let it happen again.
Definitely contact your landlord and ask for an extension on rent payment until you get paid. Paydays loans are terrible! After that, I would assess where you spent extra money this month or what caused your account to run low. I know life happens and things are expensive! Try to save an emergency fund the best you can. Edit: do you work a job you can ask your boss to be paid early?
I really recommend doing Uber if you have a reliable car. Temporary gig that can pay $500 a week working less than 30 hours.
If you have a high enough limit use the credit card and pay it off Friday so you don't get an interest charge for it
you won’t get evicted for paying rent a few days after it’s due, late fee at worst. but it’s expensive to evict a tenant, if you’re honest and communicative then you’re good.
And you just signed a new lease? You're fine. Worst thing they will do is ask for the late fee, which is probably less than what you'd pay for a payday loan. Trust me, this seems much bigger to you than to your landlord. They just saw someone who had an oopsie and is doing everything possible to clean it up quickly. Those are ideal tenants.
Get a secured/unsecured personal payday loan. google places who do them near you, you can get approved for one with a 659 credit score and get it within an hour or two. i just did this about a month ago. i needed 400 extra for rent and went to a place to get an unsecured personal loan about a mile away and left with $700 more within a hour and a half. sometimes the APR’s are tough, but if you are out of options just do what you gotta do and get the loan. shit happens !
Reas your lease. What does it say about late payments? Typically there is just a penalty. But again, talk to landlord ASAP and they may even waive or at least reduce the penalty.
Hi! I would definitely try to work something out with your landlord though because that’s only 4 days away at this point. If you aren’t able to reach your landlord, I would try a personal loan from a credit union instead of a bank. Otherwise, for the future, I would recommend getting an overdraft line of credit. It’s similar to a credit card, but it’s straight cash when you need and you can pay it back whenever, or make monthly payments. It’s a good back up, if you’re short on cash in this sort of scenario, and better than a payday loan. I only recommend this option as an emergency, and wouldn’t rely on it 24/7.
Can you put it on a credit card or asked to write a post dated check?
I am just curious, what convinced you that you shouldn't call your landlord? Did you think you were incriminating yourself? I know landlords have a bit of a reputation, but it is in their best interest to work with you and come to an agreement that does not require any legal action. Also, you literally just signed a document that tells you what the consequences of paying late or missed payments are and what is considered to be an offense to be evicted over. I definitely advise reading your lease before signing it and you should definitely go read through it now. I only know California laws, but I highly doubt they can evict you. Here, they need to give you at least a 3 day notice to give you an opportunity to pay.
Call direct and speak to your landlord, you will be given time to pay if you call and speak directly to them. Dont be scared just tell them.
>Worst case I get evicted You clearly have no idea how bad it is to get evicted and say that like whoops no biggie, moving on! You don't just get evicted and scoop up another place.
Can you write a check? Maybe drop it off end of day tomorrow. They’ll probably cash it Wednesday and it’ll probably hit your bank by Friday (hopefully). Even if your bank sends it back you should have money by then. Or just have an overdraft and pay the fees
I am not a lawyer but I work for a real estate company that does housing. The eviction process is not an immediate one so call your landlord, see what they can do as a starting point. Depending on if it's a large company or smaller they may or may not be able to work with you (fair housing, what they do for you they have to do for others and it's easier for smaller companies to accomodate). If they can great if not you'll receive a non-payment notice (usually a notice to pay or quit is what it's called depending on state). That notice will dictate a timeframe you have to pay, this varies by state as well as if your landlord has a federally backed loan. As long as you're paid before the notice expires you can avoid the rest of the eviction process though it's best to get current as soon as you can. Hope this helps, best of luck to you
Bro is too busy pasting the same reply over and over he ain't ganna call the LL. In all seriousness though, you seem young enough that you hopefully haven't already gone down the path of life long debt and living paycheck to paycheck. Invest your time in learning financial literacy and communication.
Agree with u/DeluxeXL ask for time. As for loan? Even though you have a chase account, you have no card with them to borrow against. And even if you did, they would smack you hard with fees. Chase is not your friend. They are not the friendly local "I'll be glad to help you out kinda bank". Like back when our parents were young. Trust me I have three Chase cards with a damn near perfect score AND YET their loan options were STILL at 9.99-15.99%!!! That is just insane/greed from a bank that pays nothing for savings. So whatever you do, dont get yourself into more debt just to pay off other things. See if you can do a side job for someone? Or heck even try a Go Fund me....you'd be surprised what kind of help you can get from others. I wish you luck!
Do not sign a payday loan unless your landlord absolutely won’t accept a partial payment now with the rest payable on payday! It will take months for you to be able to repay a payday/paycheck loan! If you get evicted, it’ll be very, very difficult for you to find another landlord to rent to you anytime soon! Among other things, you’ll probably need to have 3 months of rent — first and last month’s rent + security deposit equal to 1 month rent. If you need to scramble to get $700 together, how will you get $2,100?
Talk to your landlord. Maybe they will be nice. Maybe they will add a small late fee. But make sure you make some adjustments to spending so you can pay on time next month. Don’t make the landlord regret giving you a break. And you may need the favor again in the future.
issue with finance is people often don't see the problem until its in their face, however, finance decisions are small and compounding over time. Typically one bad financial decisions doesn't ruin us, but small habits over time. Unfortunately that works in the opposite way too. to get back on the right path also takes time, so simple answer is there is nothing asides from asking for grace from your landlord
Don't take out a loan and get deeper in the hole. Pay the landlord as soon as you're paid. Think about your budget and if you can afford this place. Do you need a roommate? Another job? Is there anything you can cut from your budget?