Rent in Advance
We receive a lot of questions regarding rent in advance. So we thought it was time to bust some myths about what happens to your rent that's paid upfront.
What happened to the two weeks rent I paid in advance at the start of my lease? We hear this question a lot during, and at the end of a tenancy. So, we thought it was time to bust some myths about what happens to your rent that’s paid upfront.
Why is rent paid two weeks in advance?
When you are approved for your new rental, you’ve got to pay 4 weeks rent for your bond, plus 2 weeks rent in advance to secure the property.
Is the two weeks rent held until the end of my lease?
Many tenants think that the first two weeks rent is held to the end of the lease, but this isn’t the case.
The two weeks rent you pay at the start of your lease covers the rental payments for the first two weeks you live in the property. You can also read more about rent in advance in Tenant Bulletin 25 from DMIRS.
How do I stay two weeks in advance with my rent?
If you want to keep ahead of the game and keep your rent two weeks in advance throughout your tenancy, you’ll have to make another fortnightly payment on the day you move into the property.
If you pay rent fortnightly, consistently from the start of the tenancy you will continue to be paid up two weeks in advance.
Can I pay more than 2 weeks in advance?
You certainly can. If you get paid monthly and would prefer to pay your rent monthly to match your pay cycle, just let us know and we can help you confirm the amount you need to pay. The number of days in a month does vary, so we can help you calculate the right amount to pay.
Do I need to change my scheduled payments at any time?
Depending on your rent payment cycle (e.g. fortnightly or monthly), you might do. Public holidays will affect scheduled payments with your bank.
To avoid falling into arrears, particularly over longer holiday periods like Christmas and Easter, we always encourage you to make earlier or extra payments to make sure your rent is paid in advance so that you’re not caught out.
Most importantly, getting your rent payments sorted means that you can really relax and enjoy these holiday periods!
I’m moving out. How do I know how much rent I need to pay up to my vacate date?
Firstly, if you’re a tenant of ours, you can log into your tenant portal on Property Tree via this link and find out where you’re paid up to at any time.
We’ll also send you a confirmation of the total owing to your move out date when you provide us with your vacate notice.
