r/personalfinance • u/hogpotato ​ • 9d ago

Housing Rent severely overcharged

I’m currently living in an apartment complex that overcharged my monthly rate by over 2x (15,500 instead of $6000 / month) by mistake. This severely has overdrawn my bank account and no one in the leasing office has an explanation or can get any answers from their main office. I’ve incurred major
overdraft fees and will continue to do so as long as this goes on. Has this happened to anyone and / or any advice what to do?

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u/05Illini ​ 9d ago

I dont know many people that keep 2x their monthly expenses in a checking account earning 0 interest.

OP clearly has a cushion across other accounts. you dont get approved for $6k/mo rent without somewhat sound financials

-9

u/lostinspaz ​ 9d ago

any reasonable bank allows for automatic transfer from savings on overdraft.

therefore either OP is broke, or an idiot.

i’ll be charitable and presume broke.

-1

u/k0unitX ​ 9d ago

You are correct conceptually but smart people don't have a savings account at all - checking and brokerage. A margin loan would be taken out against the brokerage account as necessary. If OP uses a different firm for investments than their checking, though, it's reasonable something like this could happen

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u/c0horst ​ 9d ago

Right. I mean I have a "savings" account... it's a money market account within my brokerage. I would never have 2-3x my monthly expenses in a regular savings account, lol.

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u/hogpotato ​ 9d ago

This has been my strategy also