PAYING YOUR RENT AS ONE LUMP SUM
When you rent the apartment, townhouse, duplex, or house that you call home, you probably carefully monitor all of your expenses, saving money wherever you can. This is a particularly important habit to get into for new renters who are adjusting in an entirely new payment situation. It can take some time to get into the groove of budgeting for your new rent, your utility bills, water bills, renters insurance premiums, and any other recurring charges you have. While some people are savvy when it comes to balancing the checkbook and flexible when it comes to living on a budget, others have a more difficult time adjusting.
There are two reasons you may consider approaching your landlord about the idea of paying your rent as one lump sum. The first involves saving money. With any number of bills you will pay throughout your life, rent included, you may be able to save on the aggregate amount by volunteering to pay a certain number of bills, or bills spanning a certain time period, up front. The other reason involves staying on top of your rental payments, ensuring that you do not have to ask for late payments and also that you do not spend money that absolutely needs to go toward the rent.
Streamlining Your Budget
An honest assessment of yourself and your spending habits will benefit you enormously across a broad spectrum of financial areas in life. One of these areas regards your rent. By nature, some renters are not particularly attuned with keeping up with bills, sticking to a strict payment schedule, etc. Far from representing a character indictment, this simply traces back to the fact that some people tend to be more preoccupied with what's going on in their heads than with practical day-to-day matters. If you are such a person, and feel embarrassed by your seemingly astonishing level of preoccupation, you should remember that Albert Einstein was famed for his abiding preoccupation as well. You should also look into the idea of paying your rent in a lump sum.
If you don't remember your landlord specifically going over such an option, you may want to approach him or her soon after you move in and ask about the possibility of this. If you have the funds on hand to pay for several months at a time, you may want to do so simply so that you do not forget next month and make a late payment. Late payments can cost you in the field of nearly anything you currently pay for. With rent, the situation can be especially important. If you tend to make late payments, you will be make a bad impression as a tenant and can, at least, lose out on a potential reference when you move to you next home.
Lump sum payments can also be an excellent idea for those who are not on a regular payment schedule. For musicians, artists, writers, and others who are paid on an irregular and sometimes unpredictable basis, it can be wise to secure the assurance of knowing your rent is paid for while you know you have the money to do so. Paying your rent as one lump sum can also make a very good impression on your landlord. If you are employed in a field that pays out irregularly, potential landlords may consider you a risky tenant. Offering to pay upfront for however many months you can comfortably afford to will often change a landlord's mind about the risk you present. A hard-to-dismiss benefit of this practice is that you may receive a deduction off your rent.