If i paid an apartment 10,000 in advance, would they let me live there for a year?
i dont want to worry about paying rent every month, so i would rather pay in advance
- Common SenseLv 72 months ago
I would not do that as it is poor financial planning that is risky. Too many things can happen in a year that can have a negative impact on a number of factors.
Also, you could be taking out three or six month bank CD''s to have your money making money for you.
If you have $10k in the bank, why not just write 12 checks, each dated for the monthly rent, that you give to the landlord at once?
It is foolish to pay a year''s rent in advance as the window for things to change is left wide open.
- liberalLv 62 months ago
Depends on what rent is, you'd have to talk to the property manager or owner though.
- JaneLv 72 months ago
In the UK, it is common when renting housing, to have a lease or contract for a minimum period of time, 6 months is common but it can be longer. Usually the renter pays a deposit in advance to secure on both sides and then monthly rent is paid.These arrangements give security to both the renter and the landlord. It is not necessary or advisable to pay a whole year in one amount. What if you decided you needed to move for a reason you don't yet know, or you discovered the apartment or neighbourhood wasn't right for you after living there for a few months, or there was a fault in the apartment? You would be stuck.I agree with a previous poster that if all you're worried about is monthly payment, just set aside your year's rent money into an account and set up a monthly direct debit or standing order via whoever you are banking with.Before you choose an apartment, check out rentals in the area you want to live in so that you get a good rate and don't pay too much
- 2 months ago
STATE LAWS VARY
It depends on state law. Here in MA, the landlord cannot accept more than the next month's rent so pre-paying rent is not an option.
That said, you could open a savings or interest bearing account and set up automatic payments to issue a check each month.
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- SlumlordLv 72 months ago
Sure, and they'd love you to death. There is some risk. Maybe they'll try to pretend (or even think) you only paid them for 11 months, when you paid for 12, and get you to start new payments a month early. Maybe they'll pretend (or even think) your rent payment included extra deposit money, or something else. Maybe they'll flat out pretend the rent was higher than it actually is, or something, and demand more rent a mere 6 months down the road. Maybe the owner has a drug/ alcohol problem, and doesn't care that you paid them for a year in advance, and they annoy you to leave just because they need the money to feed the habit, or they'll even get foreclosed on (or sell the place) and the new owner who knew nothing about the prior payment will try to evict you - who knows.
It should be fine when you do this, but there are some risks. I'd suggest stikcing to the month by month option if you can, and you won't risk whatever crazy thing the owner could think up. If you do really want to pay a year in advance and are wiling to chance the problems, why not ask for a discount - maybe ask for 15% and maybe you could get 5-10%.
- sunshine_melLv 72 months ago
Some landlords will accept this. Others won't You can always offer.
- curtisports2Lv 72 months ago
If $10,000 is enough to pay 12 months rent, they'd be happy to take your money. Do not expect a discount. Make sure you get a receipt.
- JudyLv 72 months ago
depends on the apartment and their monthly rate
- Anonymous2 months ago
But then they would have your money and no incentive to keep the place maintained.
- Anonymous2 months ago
Most landlords don't do that and in most places that's not enough money for a full years rent.😉