Hey everyone! I wanted to address a question we get asked frequently here at Merchant Property Management: When is rent due?
Rent is Always Due on the 1st
Here's the key thing to remember: rent is always due on the first of each month, regardless of when you moved in.
I know this can be confusing because you might move in on the 25th of a month, or the 2nd or 3rd, or even at the very end of the month. But no matter what your actual move-in date was, your rent is still due on the first of the following month and the first of every month throughout your entire lease term.
So let me be crystal clear: if you move in on the 15th of the month, your rent is NOT due on the 15th of every month going forward. It's still always due on the first of each month.
Late Fees and Eviction Timeline
We do have consequences for late payment that you should be aware of:
- Late fee: 10% of your rent, which gets added to your ledger on the 6th of each month
- Eviction filing: On the 11th, we file evictions for non-payment of rent
Bottom Line
No matter when your move-in date was, your rent is due on the first of each month. It's that simple.
Thanks for watching, and I hope this clears up any confusion about our rent due date policy!
