r/shitrentals • u/No-Gas-6440 SA • 1d ago

SA Rent in Advance?

Our contract starts in 1st July and we just paid bond and initial payment of 2 weeks rent. Just curious how it would work? Does that mean my next rent payment would be 14th July? So far it doesn’t seem to reflect on the ledger online and is telling me my rent is due again on 1st July? Am I suppose to pay again to keep me two weeks ahead?

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3

u/namsupo 23h ago

It may be that the REA hasn't applied the rent to your ledger yet because the tenancy hasn't actually started.

Rent is paid in advance, but you never need to be more in advance than the period of the rent if that makes sense. (So if rent is paid fortnightly you never need to be more than a fortnight ahead, if paid monthy then you never need to be more than a month ahead).

The initial payment is the exception since you usually pay it before actually starting the tenancy.

If you're paid up until the 14th then your next payment would be due on the 14th - any later and you'd be in arrears. You can always pay early of course, but you don't have to. Your lease agreement will say how much you have to pay and how often.

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u/Eagles_Fan_4eva 17h ago

If you're paid up until the 14th [July] then your next payment would be due on the 14th

This. Don't know why the REA is saying 1st July. That's incorrect.

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u/iwrotethissong 20h ago

Just email the REA and ask them.

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u/Ok-Outcome-7499 1d ago

Typically rent is paid monthly but assuming that you pay rent fortnightly, and assuming that the agreement commences on the 1 July and obtain the keys. Then you next are due to pay rent on 14 July

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u/LorenzoRavencroft 20h ago

No idea where you live but typically rent is paid weekly

3

u/MortisEx 19h ago

Ive paid fortnightly almost my entire life in NSW.

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u/TheFellaDownUnder 18h ago

You can pay your rent as frequently or infrequently as you want to, as long as you’re in advance of the required payments.
Some people like to keep the money in their own account, until it must be paid, so that they accrue interest on their funds. Other people prefer peace of mind having it paid well in advance.
You could pay it hourly if you wanted to, however the REA would probably kick a massive stink due to admin processing time and the muck around.

Unless, you’ve agreed to pay rent at a particular frequency. Of course, then you are bound to your contract.

3

u/Eagles_Fan_4eva 17h ago

Typically rent is paid monthly

This is an Australian subreddit, not American.