As much as we want it to be, paying rent on the first of the month just isn’t always possible.
Maybe you lost your job, your paycheck hasn’t cleared, or you faced an unexpected account-drainer this month. Sometimes you just forget to plan ahead. It happens.
But if your landlord isn’t very forgiving, they can stick you with some serious late fees. That’s perfectly good money you could actually put toward the rent.
The truth is, this happens to more of us than you might think. In fact, $5 billion in late fees are going into our landlords’ pockets every year. Finding a way out of this mess can feel impossible.
What you might not know is a company called Flex can get you out of paying these late fees. It’ll pay your rent for you at the first of the month, then you pay them back on your schedule — no hidden fees or interest owed.
Pay Rent When You Can — This Company Will Cover You
What if you could split up your rent? Think about it: Instead of throwing away $1,000 all at once, what if you could pay $250 each week? It would really soften that monthly blow to your bank account.
Flex can make that happen. It covers your rent at the first of each month, then you pay them back on a flexible payment schedule throughout the month.
Goodbye forever, late fees!
You can choose to pay Flex weekly or biweekly, and you won’t get charged penalties if you’re ever a few days late. It’ll even help you save up for future payments, so you can skip a month. (Imagine not having to think about rent for an entire month?!)
Having Flex pay your rent is kind of like using a credit card — but without the typical 3% service charge. So, for example, if your place costs $1,200 a month, that’s an extra $36 you’d have to cough up — not to mention the super-high interest that could accrue if you can’t pay off your balance.
And if you’re strapped for cash, the options outside a credit card aren’t great. Many times, you’re forced to choose between $35 overdraft fees or a high-cost payday loan.
Compare those options to Flex, which is only $19.99 a month — no hidden fees, no interest owed.
It only takes a few minutes to see if you qualify. Then you’ll connect your bank account and your online rent portal, and Flex will have your back come the first of next month.
Kari Faber ([email protected]) is a staff writer at The Penny Hoarder. She’s guilty of forgetting to pay rent on the first once or twice.
This was originally published on The Penny Hoarder, a personal finance website that empowers millions of readers nationwide to make smart decisions with their money through actionable and inspirational advice, and resources about how to make, save and manage money.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.