Is it logical to pay for rent 3-6 months in advanced?

Question

If you happen to come across some extra funds and since the rent is inevitable, why not pay ahead?

the company who manages the rental units is reliable and owns several buildings all over the state.

I just need to prove some ignorant people wrong....so please voice your opinion folks!

Answer 1

no.

Answer 2

If it is going to be beneficial for you, then sure, I dont see why not. Its prolly the smartest thing to do anyways.

Answer 3

Won't hurt anything but won't help anything either. Do you have any debts accruing interest? It would be wiser to pay those off first. Personally I would put the money up in savings then only take it out if I fell behind. If you have trouble budgeting your money and eviction is a constant worry, maybe paying in advance would be to your advantage.

Answer 4

Only if you can't control your expenses.

Answer 5

I wouldn't pay that far in advance, as someone else mentioned you are better off keeping some of the money in the bank to gain some interest. keep 3 months in a personal savings and the other 3 months in a cd account.  Just make sure you keep some in your saving or checking in case you need to get to it.  Also you shouldn't  have prove yourself to anyone, as long as you know you are doing the right thing to benefit you.

good luck

Answer 6

we did that so long as you keep track of when your due to pay again cause we lost track always paying in advance then got behind because we were used to not keeping track having paid months in advance. either then that there is no problem and if you move out before then you will get a refund of money just keep the recipts

Answer 7

The only thing wrong with paying rent that far in advance is you lose the opportunity to make interest on your money, and now your land lord is making interest on your money.  Though in practice depending on what your rent is and where you have your money and what the interest rate is, we're not talking about big money so it's not the end of the world.  Also if you were to make payments that far in advance make sure you get a receipt and hang on to it.  I understand that the management company is reliable but they might forget that you paid in advance since it's probably not extremely common and might come after you one month claiming you have not paid.

Answer 8

Yes, it is very reasonable to pay rent early (in advance). One advantage is you can save that much in future months to come, and another is you can reduce the amount of interest you have to pay. Also it will help if you cant make a payment in a future month.

Hope this helps!!! :-p