We all know about some of the most common questions when it comes to apartment hunting. Inquiries about the amenities on the property, the cost of the rent, any additional services available, and trying to find out what other places are nearby. But what about the questions that are most common that people don’t think of until after they move in? It’s pretty easy to get caught up in the rush of finding the perfect apartment, but reading the fine print and knowing the small details of your new apartment is important. That’s why we’re starting a series on the fine print and the questions that arise after the move in. Today, we’re starting off with payments.
Making the Lease Payment
It seems simple, right? You know how much you owe each month, so you pay the apartment complex. Right? Most apartment complexes will typically go over payments with you, but payment and collection methods can vary. The reason it’s important to know is largely due to how late fees are assessed. The majority of apartments will require your lease payment on the first of the month, regardless of that day falling on a Saturday or Sunday. If you are able to make online payments, you’ll need to make sure that the payment is initiated no later than the first of the month. Many places, though not all, still accept other forms of payment like a money order, which will have a date of purchase on it that the complex uses to ensure you made an on-time payment.
When leasing a new apartment, make sure you fully understand the options available to you to make your lease payments. You should also make sure that you understand the details of when those payments need to be made so that you can avoid late fees!
Avoiding Late Fees
No one likes late fees, except for maybe the apartment complex as long as the fee is paid. There are times that a late fee might pop up and you’re scratching your head trying to figure out how that happened. This is why carefully reading through your lease agreement and contract is important to avoid paying extra fees. For first-time apartment goers, here is a common scenario: the lease payment is due on the first of the month, but it’s a Sunday. Not thinking anything of it, the payment is made the next day, but now there is a late payment. Unfortunately, not everyone reads a lot of the fine print regarding late fees, and many apartment complexes are very strict about the payment schedule.
Though it is important to note that some lease agreements include a grace period. Sometimes this is the third of the month, but it’s up to each individual complex. This built-in grace period essentially says that while the payment is due on the first, late fees won’t be assessed until – for example – the third. This makes reading every part of your lease agreement even more important.
Utilizing Utilities: Who Pays?
There are some apartment complexes where utilities are included in the rent. However, there are other complexes where the utilities are separate and you need to manage those yourself. When you’re looking for an apartment, this is something that is important to take into consideration when trying to find something that you can afford. For example, you could find a place in which the rent is right around your maximum budget, but what about paying for electricity and water? Additionally, while not considered a utility, some apartment complexes have internet included while others do not. It’s also possible that only certain utilities are included while others are not. This doesn’t mean one way is better than the other, but it’s important to understand your utility payments prior to making a commitment.
Don’t Let the Fine Print Fool You with Apartment Locating Specialists
With Apartment Locating Specialists, you can rest assured that you’ll find exactly what you’re looking for. Our service goes beyond a search of the area since we know these areas like the back of our hand. We’ll take what you are looking for and get down to the details with utilities and other areas of the fine print. Reach out to us today or go ahead and start your own search now.