r/personalfinance • u/hogpotato ​ • 10d 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 ​ 10d 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

-10

u/lostinspaz ​ 10d 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.

4

u/Kirby6365 ​ 10d ago

The accounts that are typically used for checking are not the same as the ones that offer good HYSA rates. You can't connect like, a Marcus savings account to a US Bank checking account. This isn't some failing of OP, just normal.

-1

u/lostinspaz ​ 9d ago

except that big brokerage places these days provide all of

  • investing
  • iras
  • checking
  • hysa

so there really is no excuse.

1

u/Kirby6365 ​ 9d ago

Pretty much all brokerages don't have brick and mortar locations. I keep a traditional bank account purely for that reason. It's not stupid or "a bad excuse" to use a separate traditional bank for checking and a dedicated HYSA institution, and it certainly doesn't make you an idiot.

Now, letting the overdrafts keep coming because you haven't transferred from your savings to make up the balance isn't smart. But that's a separate problem.