Oops, No Rent! 7 Things To Do If You're Short

061509-rent.jpgIt can happen to the best of us. Suddenly it seems as if the month went too fast and with a week, or even a few days, to go, it seems like you're coming up short on the rent money. Assuming that this is not a chronic problem and you've been a good tenant and paid your rent on time up to this point, here are a few tips to get you through that sticky situation...

  • Do be solution oriented: If this is your first time and you've been a good tenant, it's likely that your landlord will be understanding and want to keep you as a tenant; evicting a tenant is a lengthy and costly process. Approach the problem with a positive attitude and understand that your landlord has bills to pay too.
  • Don't avoid the problem: And don't avoid your landlord. Let your landlord know the moment you know that there's a problem and explain the situation in a concise manner.
  • Don't play games: Don't give your landlord a check that you know will bounce or make promises you can't keep. This will not only create ill will but you'll end up owing the landlord any bounced check or late fees.
  • Do pay something: Try to play at least a portion of what is due; this may buy you a few extra days.
  • Do put it in writing: Once you and your landlord have come to an agreement on your extension, put it in writing.
  • Don't punk out: Stick to your agreement and pay your rent by the agreed upon date.
  • Don't let it happen again: Put aside at least one month's rent in your savings account. If it's not used for rent, it can be used towards making improvements in your home.

[image: CarbonNYC]

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