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Hi, so I have the funds to pay the rent. Issue is there is a delay in the funds being processed in my bank till Monday the 9th. That is 4 days after the 5th final date to have rent in.
Should I email the landlord? I pay on time feel embarrassed.
Just wondering what I should do with the situation?
Appreciate the insight.
Called the bank but they said since I am on the Easy Coasy call in the morning so just waiting it out. Hoping to see if they can process the funds quicker.
Why would you wait to pay until you are at the point a day or two hits a deadline. It reminds me of those at work who time the trip so if they hit an extra traffic light they are late
Just the way my checks flow in. Live check to check. Checks don't flow in till Thursday. So usually if the first falls on a Thursday to Saturday will pay the rent on the first. However, if the first falls on a Sunday through Wedneday pay the rent on the Thursday.
I have the money but won't be processed till the 9th...So not sure if I should contact the landlord let them know the issue.
Why bother doing anything since odds are it will only happen again at some point. The solution is do something even if temporary to get at least one months rent in reserve so you can pay on time.
This is a dangerous game where you can't come up with a months rent . If anything happens and you miss a paycheck check then what.
Your problem of cash flow should not become your landlords problem . If it was me and it happened twice i would ask you to leave at the end of the lease. Which creates more of a financial hardship on you. Seems to me you have more to worry about than being a day late
Well see that is the other issue as well. I transferred money from my account (Different bank) used for rent (That won't be processed till Monday either).
So basically transferred money into my other checking account and tried linking my account to the online payment site for rent but didn't work. So I then transferred money into the primary account I use to pay the rent and that is where the hold up was. They said it'll take till Monday to go through.
Now hoping to cancel that transaction to have the money posted back into the other checking account by today because was finally able to link that account to the online payment site.
The money is there it's just floating around and need it to be linked to an account so I can pay the rent.
But it stiil relates to the fact you are so low on cash reserves that you could not pay the rent on the first of the month in the landlords hands when due , not playing around bumping deadlines
Last edited by mathjak107; 07-05-2018 at 04:14 AM..
OP, you need to find a way to have enough money in the bank to pay your rent on the first of each month. Maybe you or your wife can work some overtime or one or both of you get a second job to give you some cushion.
1.) If you’re periodically late, it will affect your rental history and any reference your LL gives for the next place. Or even the option to continue leasing this place once your current lease expires.
2.) You will have to pay late fees which is just wasted money you don’t have any way. (Your lease should specify how much they charge for late fees)
As a courtesy, you could call your LL and tell them you will be paying rent on Monday along with any late fees incurred.
OP, you need to find a way to have enough money in the bank to pay your rent on the first of each month. Maybe you or your wife can work some overtime or one or both of you get a second job to give you some cushion.
1.) If you’re periodically late, it will affect your rental history and any reference your LL gives for the next place. Or even the option to continue leasing this place once your current lease expires.
2.) You will have to pay late fees which is just wasted money you don’t have any way. (Your lease should specify how much they charge for late fees)
As a courtesy, you could call your LL and tell them you will be paying rent on Monday along with any late fees incurred.
Exactly my point . If you can' t pay the rent on the first then you don't have the money . Living hand to mouth will bite you over and over . It is asking for trouble. Alarm bells and red flags should be setting off in their lives
Last edited by mathjak107; 07-05-2018 at 04:51 AM..
Just the way my checks flow in. Live check to check. Checks don't flow in till Thursday. So usually if the first falls on a Thursday to Saturday will pay the rent on the first. However, if the first falls on a Sunday through Wedneday pay the rent on the Thursday.
I have the money but won't be processed till the 9th...So not sure if I should contact the landlord let them know the issue.
Why are you transferring money into a checking account that you don’t use to pay rent? It seems like this is the real problem if you have money going into one account and then it takes 4 business days to transfer it from one account to another and you have to add in weekends and holidays to the mix. Is it not possible to write out a check from the one account and pay the balance on time? My current complex accepts electronic payment or checks, but I am sure if someone called and explained that the money is not in an account that is attached to the electronic payment and the only option right now is a check, they would probably take it as opposed to waiting. Of course the issue is that now you’ve actually transferred the money already.
See it's the joint account with the wife. We have automatic payments taking out on the 5th of the month. I had to cancel the payment because the delay with the check processing. So I tried connecting my account to the payment center but it didn't work. So I then transferred that money into the other account but it went process till the 9th. So I am trying to get that transfer cancelled with the bank but so far it's a pain in the but.
I just need that money in the void into one account and I be able to pay my rent.
I am paid biweekly so if I receive a check prior to the first not after usually pay on the first not the 5th. It's just easier like that.
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