Continuing with our Lease Series from last week, this week we'll discuss paying rent. And remember, the lease is important, not only does it serve as a guide for what you can and cannot do, it's the difference between a friendly farewell and possible legal action, or worse, eviction. The lease reads: PAYMENT OF RENT: Payments may be mailed to our office located at 11433 Cronridge Drive, Owings Mills, Maryland 21117 or at such other address as may be designated by us. You may also pay your rent by enclosing your payment in an envelope and placing the envelope in the Drop Box at 11433 Cronridge Drive, Owings Mills, Maryland 21117. Except as may otherwise be required by law, or by us, all rental payments made by you must be by check or money order. We will convert all paper checks received in payment of rent into electronic items for Automated Clearing House (ACH) funds processing. Such electronic payments will be for the amount indicated on each check and may be withdrawn from your bank account on the same day that your payment is received by us. You understand that a check converted into an electronic item will not be returned to you by your financial institution and will instead appear as an electronic item on your bank statement. If you notify us requesting that your check should not be converted into an electronic item, you must thereafter make all rent payments by cashier's check, certified check or money order. If we cannot post the transaction electronically, we are authorized to present a copy of your check for payment. No personal checks will be accepted after the 5th day of the month, nor will they be accepted if one (1) of your checks, in a twelve (12) month period, is dishonored by your bank. Should we employ a collection agent to institute proceedings for rent and/or repossession of the Premises for non-payment of any installment of rent, and should such rent be due and owing as of the filing of said proceedings, you will pay us the reasonable costs incurred by us in utilizing the services of the collection agent. But what does this mean? For those of you who don't know what an ACH is, it stands for Automated Clearing House, which is a fancy way of processing a physical check to electronic funds. If you prefer to write a check each month, this is to be mailed directly to our corporate office at 11433 Cronridge Dr. Owings Mills, MD 21117, or you can drive there and place it in a drop box. The check is then processed electronically and taken out of your bank account. We only take the exact amount written on your check. Rent is due on the 1st of every month, but you have until the 5th before they'll apply the late charge of 5% market rent. After the 5th at 4:00pm, no personal checks will be accepted for rent, only cashier's checks or money orders. You would be working with the Property Manager at this point, as it they may begin the process of eviction. If we hire a collection agency and proceed with repossession of the apartment, you will be responsible to pay us back for the charges we received from them. But wouldn't you rather avoid all of this nonsense? Pay your rent online; it's quicker, easier, and greener!
Paying Rent
Continuing with our Lease Series from last week, this week we'll discuss paying rent. And remember, the lease is important, not only does it serve as a guide for what you can and cannot do, it's the difference between a friendly farewell and possible legal action, or worse, eviction. The lease reads: PAYMENT OF RENT: Payments may be mailed to our office located at 11433 Cronridge Drive, Owings Mills, Maryland 21117 or at such other address as may be designated by us. You may also pay your rent by enclosing your payment in an envelope and placing the envelope in the Drop Box at 11433 Cronridge Drive, Owings Mills, Maryland 21117. Except as may otherwise be required by law, or by us, all rental payments made by you must be by check or money order. We will convert all paper checks received in payment of rent into electronic items for Automated Clearing House (ACH) funds processing. Such electronic payments will be for the amount indicated on each check and may be withdrawn from your bank account on the same day that your payment is received by us. You understand that a check converted into an electronic item will not be returned to you by your financial institution and will instead appear as an electronic item on your bank statement. If you notify us requesting that your check should not be converted into an electronic item, you must thereafter make all rent payments by cashier's check, certified check or money order. If we cannot post the transaction electronically, we are authorized to present a copy of your check for payment. No personal checks will be accepted after the 5th day of the month, nor will they be accepted if one (1) of your checks, in a twelve (12) month period, is dishonored by your bank. Should we employ a collection agent to institute proceedings for rent and/or repossession of the Premises for non-payment of any installment of rent, and should such rent be due and owing as of the filing of said proceedings, you will pay us the reasonable costs incurred by us in utilizing the services of the collection agent. But what does this mean? For those of you who don't know what an ACH is, it stands for Automated Clearing House, which is a fancy way of processing a physical check to electronic funds. If you prefer to write a check each month, this is to be mailed directly to our corporate office at 11433 Cronridge Dr. Owings Mills, MD 21117, or you can drive there and place it in a drop box. The check is then processed electronically and taken out of your bank account. We only take the exact amount written on your check. Rent is due on the 1st of every month, but you have until the 5th before they'll apply the late charge of 5% market rent. After the 5th at 4:00pm, no personal checks will be accepted for rent, only cashier's checks or money orders. You would be working with the Property Manager at this point, as it they may begin the process of eviction. If we hire a collection agency and proceed with repossession of the apartment, you will be responsible to pay us back for the charges we received from them. But wouldn't you rather avoid all of this nonsense? Pay your rent online; it's quicker, easier, and greener!