Whenever a renter owes money to a property management company, those fines appear on the individual’s credit report as “delinquent.’” If those fines remain unpaid, they can begin to negatively impact a person’s eligibility for future rentals. Because most apartments in Waldorf MD won’t rent to tenants who still owe a balance to other property management companies., it’s crucial for renters to pay off outstanding rental fees as soon as possible.
To learn more about how rental fees become delinquent and their impact on your rental eligibility, keep reading.
How are delinquent fees accumulated?
There are generally two reasons that renters accumulate delinquent fees:
The security deposit didn’t cover your move-out repairs:
When you move into a new apartment home, a security deposit is collected at the time of move-in.
This deposit is kept on hand to cover and wear and tear that is incurred during your tenancy. If things like carpeting, cabinetry, or paint need to be replaced at the time of your move-out, the security deposit will be kept on hand to cover those expenses.
Sometimes, however, the amount of wear and tear renters leave behind exceeds what a landlord can cover with the amount of the original security deposit. If a renter has caused an abnormal amount of damage to their unit, landlords will often charge the tenants additional repair costs at the time of their move out. If these fees remain unpaid, they will be recorded on your rental history.
You had unpaid rent at the time of your move out:
If you’ve ever been evicted due to an inability to make rent on time or skipped out on your lease without paying, it’s almost certain that the remaining amount owed for your rent is listed as unpaid dues. Depending on the situation, you may be able to pay this amount back directly to the apartment community you owed money to. If the fines have been “charged off” by the community, you’ll likely be forced to work with a 3rd party collection agency to repay the dues.
Unpaid Rental Fees are a Red Flag to Property Managers
Whether you plan to rent from an independent property owner or a big leasing agency, unpaid rental fees (regardless of their cause) are a big “red flag” to property managers. From a manager’s perspective, renters who haven’t paid off balances from their previous tenancies are unlikely to be trustworthy. Because of the effect that unpaid rental charges can have on your credit score and rental history, it’s crucial that you pay these balances off immediately.
Most people with unpaid rental fees are simply struggling with finances and haven’t been able to come up with funds to pay back their debt. Unfortunately, these delinquent charges can impact your ability to rent Waldorf MD apartments.
If you’ve been struggling to repay a leasing agency, try working out a payment arrangement that will allow you to begin paying back your debt and rebuilding your rental history. With a little persistence, time, and effort, you can dramatically improve your rental prospects.