What to Do if You’re Late with the Rent

It's no secret that many people are struggling financially due to the pandemic. With rental costs continuing to skyrocket, even the most responsible and conscientious tenants can find themselves unable to make rent at times. But it's important to be aware of what happens if you can't make rent on time, as it can have serious consequences.

The first consequence of being late on rent is late fees. Landlords are well within their rights to charge a fee for late rent payments, which can range anywhere from 5-15% of the rental amount due. In addition, many landlords are now charging more for repeat offences, meaning tenants who are consistently late may be subject to progressively higher late fees.

The second consequence of late rent is eviction. If a tenant is more than two weeks late on rent, the landlord can begin the eviction process, which could lead to the tenant being judicially evicted from their home. Additionally, court costs and other legal fees can be imposed on the tenant.

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The third consequence of late rent is credit score damage. Although it can vary by state, many landlords will report late rent payments to collection agencies, which can have long-term consequences on a person's credit score.

Finally, if a tenant cannot pay their rent, it is important that they communicate with their landlord. Depending on the agreement between the parties, there may be provisions for payment extensions, reduced rent, or special hardships that can help keep people in their homes.

Ultimately, late rent payments can be a devastating experience, so it's important for tenants to be aware of the consequences of not paying on time. If a tenant is struggling to make rent, it is important to contact the landlord as soon as possible in order to avoid long-term damaging repercussions.