home | faq | contact us | site map | privacy

Rent Payment Policies

Due Date
Rent is due on the 1st of each month.  Your lease will describe when your rent payment is late.  Typically, rent is considered late when your payment has not been received by Mitchell Properties by 5:00 PM on the 3rd of each month.

Late Fees
After the monthly due date, rent payments will not be accepted under most circumstances without the late fee described in your lease.  Monthly late fees range from 5% to 10% of your monthly rent.  Mitchell Properties prefers a situation where you are able pay your monthly rent on time and avoid the late fee.

Late Letter
If your rent payment has not been received by the 5th of the month, a "late rent" letter will be sent out.  Certified funds are required for both your monthly rent payment and the late fee.

Returned Checks (Non-Sufficient Funds)
If a check is returned for non-sufficient funds (NSF), an NSF fee of up to $50 applies regardless of why funds were not available.  Your bank may reimburse you for this fee if they were in error.  In most cases, all subsequent rent payments must be made in certified funds.

Pro-rated Rent
The following pro-rated rent policy applies to most circumstances; on occasion, there may be exceptions.  If you move in before the 15th of the month, your first month's rent will be pro-rated from the move-in day to the end of the month.  If you move in after the 15th of the month, your first month's rent will be pro-rated from the move-in day to the end of the month plus the next month's rent.

Last Month's Rent
Rent is due on the 1st day of the month, each month--including the last month.  Under no circumstances will tenants be allowed to pay for rent using their security deposit.

Using the US Postal Service
Please keep in mind that rent payments sent through the postal system may be delayed.  If your rent payment is received late, regardless of US Postal Service delays, you will be responsible for paying a late fee.  Be sure to mail your rent payment early enough so it arrives on time.

Reporting Delinquent Tenants
Mitchell Properties actively works with and submits reports to all three credit reporting agencies (Equifax, TransUnion, and Experian) to report tenant delinquencies.  Delinquencies may remain on your credit report from 7 to 10 years and have a significant impact on your credit score.  Mitchell Properties is also an active member of the National Delinquent Tenant Cooperative. 

 

1994-2012 | Mitchell Properties SM | all rights reserved