If you are a new Specialized Property Management resident, we want to welcome you to your new rental home in Fort Worth. We understand how stressful the moving process can be, so we’re hoping to provide you with a little bit of information about how rent is to be paid every month. Following the terms of your lease agreement is an important part of being a responsible tenant.
We’re here to answer questions about making your lease payments, or paying rent. We hope you’ll find this information helpful as you begin a successful tenancy with us. If you’re unsure about anything we’re discussing, check your lease for confirmation of facts, or contact us for help.
When Is Rent Due?
Unless it is stated differently in your lease agreement, rent is due on the first of the month. This is true for every month that you are a resident. Even if the first of the month falls on a holiday or over a weekend, it’s due on that day. Tenants will often make the mistake of thinking that rent is due on the first business day of the month. It will be due on the first of the month no matter what day the first happens to be.
We recommend that you put some reminders into place to ensure you pay it on or before the first. You can write it down in a calendar or set an alarm on your phone. Schedule the rent payment three or five days ahead of the first so you know it won’t be late. Do whatever you have to do to automatically pay your rent on the first day of the month. It will save you the hassle of extra headaches and costs if you just pay it on time every month.
Many tenants ask whether we have a grace period for rent. We want you to pay it on the first, but we understand that you may need an extra day to move some funds or transfer money or wait for your paycheck to be deposited. So, we will allow you to pay your rent on the second day of the month without penalty. It’s easier for all parties if it’s paid in full on the first. However, we do offer our tenants one grace day, and we will accept your rent on the second of the month.
Rent is considered late after midnight on the second day of the month. Don’t wait until the third day or the fifth day to pay. If it isn’t paid on the first or the second, it’s considered late, and late fees begin to accrue on the third.
Please ensure your rent is paid on time each month.
How Can Rental Payments Be Made?
Another question we receive from many of our new tenants is – how do we pay rent? This is another answer that you’ll find in your lease agreement. If you have any questions or you’re unsure of how to pay rent, check your lease agreement for instructions.
We know that paying rent on time is important, so we make it easy and convenient for all of our tenants to pay in a method that makes the most sense for each individual resident. With your convenience in mind, we will accept rental payments through any of the following methods:
- You can pay your rent online.
- You can pay your rent at any 7-11 store.
- You can drop your rent check in the mail.
- You can bring your rent to be paid in-person.
We have found that at least one of these rental payment methods works for all of our tenants. It’s not a bad idea to have a backup plan in mind. For example, if you lose your internet and cannot make an online payment as planned, be prepared to come and drop it off in our office. Or, if forgot to mail the rent check in time, get online or on your phone, and make the payment electronically. We want you to pay in the way that works best for you, but we also want you to be flexible with how you’ll meet your responsibilities.
How to Pay Rent Online
Rent is easily and securely paid online. Tenants love this option because you can pay from anywhere there’s an internet connection, and you can pay at any time of day. Log onto your tenant portal on our website. It’s easy to sign up for an account if you haven’t already done so. There, you can pay your rent through an electronic draft, which will come from the checking account you specify in your portal. You can save the account that you plan to use every time, or use a different bank account each time you pay rent.
Use your portal to make a one-time payment or to set up recurring payments. You will notice there is a small additional fee of $2 per month for the online payment service. You can improve your rental payment history by paying online and on time. Please note – you can pay online by providing your bank checking account, or you can pay with a credit card. If you use a credit card to make your online rental payments, there will be a credit card processing fee charged.
How to Pay Rent at 7-11 Stores
You might think of 7-11 as a great place to buy a snack or a lottery ticket, but you can also use this popular chain of convenience stores to pay your rent. This has been especially attractive to tenants who want to pay in cash, since it’s impossible to make cash payments online and unsafe to send cash through the mail. The clerk and staff at your local 7-11 will assist you in making your payment and provide you with a receipt.
How to Pay Rent by Mail
Paying rent by mail seems easy enough; you simply drop a check into an envelope, address the envelope, get a stamp, and send it on its way, right? Well, you have to make sure it goes to the right place, and you have to make sure it arrives in time.
Many people still enjoy paying bills by regular mail, even with all of our advances in technology. You can mail your monthly rent payment to the address found on your lease agreement. If you have trouble locating the correct office address, make sure you call us to find out where you should mail the rent check. Think about timing as well when you’re sending your payment through the mail. Please allow enough time for the payment to reach our office. Your payment will be posted to your account on the day that it is received, not the date that’s printed on the postmark of your envelope.
Remember, the rent will be considered late if it’s received after the second. You cannot blame the mail or claim that you sent it in plenty of time. It needs to arrive in our office on or before the first or the second of the month.
How to Pay Rent In-Person
If you’d like to come into the office to pay your rent, you may do so during our normal business hours. Again, you can find the correct office address in your lease, or you can call us to find out where we are and how to get to us. If you want to drop off the rent outside of normal business hours, you’ll need to make sure our building has a drop box where you can safely leave your rental payment when we’re not in the office.
Paying Your Rent in Full
Another important thing that you must understand is that rent is due in full every month. We cannot accept partial payments or a portion of the rent that’s owed with a promise to pay the rest in the future. You need to pay all the rent that is due for each month.
A full month’s rent is due at the time you move into the home as well, regardless of the day your scheduled move-in occurs. If you move in on the 10th of the month, for example, you’re still responsible for paying the full monthly rent for that first month. Then, your second rental payment will be pro-rated. If you have any questions about this, be sure to talk to your property manager about it when you’re discussing and signing the lease.
You also need to know that your security deposit cannot be used as your last month’s rent. That would be considered a breach of your lease, and there would be extra penalties and costs charged to you.
We believe a great relationship starts with understanding responsibilities and expectations. If you have any other questions about your lease payments, we suggest you take a look at your lease, or contact our accounting department.
Thank you for your efforts to pay rent on time. We look forward to serving you, and if you need any help, please contact us at Specialized Property Management in Fort Worth.