When times are tough or your fixed expenses are high, it seems as though your paycheck disappears before you know it. Obviously rent is one of your highest priority bills but depending on the timing of your other bills or if an emergency comes up, you may find a month where you are late. Here are some tips on what you can do in that situation.
Talk to your landlord. Although your landlord may be the last person you want to face when you can’t give him his money on time, the repercussions of not paying are going to be a lot easier if your landlord knows about your situation. If he understands that you are trying to get a solution together to get him what he is owed, he is much less likely to take any extreme measures to force you to pay and will give you a few extra days to come up with the money.
Find extra income. This is easier said than done but if there is any way for you to earn some extra cash – for example, by babysitting, selling some possessions that you don’t really need on eBay or Craigslist or picking up some extra shifts or overtime at work – now is the time to do it. While adding work to your plate can be stressful, it will be even more stressful if you end up not being able to pay your landlord and he pursues legal action against you so it’s better to put in some extra time now.
Explore alternate living situations. If you are having trouble keeping up on your rent on a regular basis, you may have to reconsider your current living arrangement. That may mean moving to a cheaper place, moving in with friends or family or taking in a roommate that can help cover some of your costs. If you’re not at the end of your lease, talk to your landlord about getting out of it early by finding a subletter. Your landlord may be more likely to work with you on breaking a lease or finding a new tenant if he realizes that you are falling behind on your monthly payments.