How do I pay my rent?
Your rent should have been clearly stated in the advertisement, so you should already be aware of this. Make sure that you are only looking at accommodation within your budget and that the amount initially advertised matches that in your tenancy agreement.
We have a blog on what to look out for when signing a tenancy agreement if you are still stuck!
The tenancy agreement is a legal contract between you and your letting agent, so make sure the amounts are correct and what you expected before signing anything.
Figure out your payment method:
Before you even move in, you will need to find out what payment method you need to use for that property. This will be made clear in your contract. Landlords, letting agents and halls often accept different types of payment methods such as bank transfers, direct debits, or standing orders.
Pay your rent on time:
It is super important to make your rent payments on time to avoid any late fees or penalties. We know that this may sound really obvious, but it cannot be stressed enough!
When you will have to pay your rent is personal to your renting situation. Some require a monthly payment and some ask for a larger bulk sum quarterly (every 3 months).
Make sure to keep track of your payment due date and set reminders if necessary. If you are living with others, perhaps mark it on a calendar in a shared space so you can all see when rent day is approaching!
If you are ever have difficulty paying your rent, speak to your landlord or letting agent about it. There may be a solution and letting them know beforehand is likely to decrease your chances of any negative consequences.
Remember in most cases you will have had to provide a guarantor and if you are late paying your rent they may be contacted.
Keep records of your payments:
When we say keep your records, this can be as simple as not deleting your emails! These can be anything such as bank statements or receipts. This can be useful in case of any disputes or issues with your landlord or letting agent.
Paying rent can seem like a big deal, especially if you're doing it for the first time. But try not to stress, stick to these steps and it will be fine!
And if you want to know how to pay all of your other bills, check out this guide to paying student bills from our partners, Fused.
