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ASKING FOR A GRACE PERIOD ON RENT

Sometimes bad things happen to good people. If you are late on the rent (again), then you need to hope that your landlord agrees with this statement. However, this can be a lot easier said than done. How do you ask for a grace period on rent without succumbing to the dreaded eviction? You need to go about it the right way.

Rent is one of the biggest bills most people face each month and thus it is also the one that you may be short on. There are several different ways to come up with the money on rent before the due date - you can ask your family or friends for a loan; you can borrow it from your already overdue credit card; you can partake in a money saving staycation; or you can look into getting a small cash loan from a financial institute. However, many people have tried these options already with no luck. Instead, they need to go to the source and ask for a grace period on rent to their landlord.

If you have tried a number of different ways to get the rent but are still coming up short then you may need to speak to your landlord about it. It is best to give him notice that you may be a little short on rent so that he can prepare for this. Let him honestly know what has happened. If you are short because your hours have been cut or you have faced a medical emergency, then this is understandable. If you are short because you accidently spent your rent money on a new pair of shoes or at the pub on the weekend, then this is not.

Of course, no one in their right mind is going to say "sorry I spent my rent at the mall". However, your landlord may start to get suspicious if this continues to happen over and over again. Letting rent slip a few days past the due date once is okay; letting it happen all the time is not. No landlord is going to accept this and you will find that you will be evicted after only a couple of mishaps like this.

Budgeting for Rent

Make it your mission every month to get that rent check ready to go. Start a special account that is only for your monthly rent check. Make sure you have enough before it is due. If you cannot seem to make up the amount each month then you may need to cut back on other items to make up the difference. Setting a budget and sticking to it can be difficult but it is all part of growing up, as is paying the rent on time and in full each month.

Asking for a grace period on rent is not the worst thing you can do and most landlords will be reasonable as long as this is not happening every month. If you are doing this often then you can expect either an eviction or a poor letter of recommendation later down the road when you do decide to move out and get another place. Keep in mind that, while your landlord may be understanding and let your rent slide a couple of days past due date, a financial institute will not be this forgiving. It is best to learn this lesson now, before you purchase your own home and are responsible for making monthly mortgage payments. A slip up on your mortgage payment and you could be looking at more than just a dirty look; you could be looking at foreclosure.

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