When you move in to your new place, there are some basic responsibilities that you need to be aware of. The most important is paying your rent on time.

• At the real estate agents office: this could be done with cash or a cheque. Many property managers prefer not to handle cash payments and now encourage electronic payment or use of 'rent payment cards'.
• At the Bank: deposit cash or cheque or transfer funds into the nominated bank account.
• Direct Debit: you can pay direct into the bank account specified. You can do this manually or set-up a regular payment. If you have access to online banking this is simple to do and it keeps a good record for you.
• Rent Payment Cards: A special rental payment card may be offered to you by the property manager or landlord. This is a card that has a unique number and pin code that identifies the rental property you are making payments for.
• These cards allow you to make payments over the phone and internet (and even initiate payment via SMS in some cases). These cards allow you to make safe and convenient payments as well as login to see your history of payments.

How to Make Sure the Rent Gets Paid!

The lease that was signed for rental of the property is a contractual document. This must be taken seriously. Make sure everyone in the house understands that 'paying the rent on time is important'. The people whose names are on the lease are ultimately responsible for the rent and lease conditions.

You may be paying equal shares or an agreed split of the total rent, either way make it clear to everyone contributing how much is due and when it is due by.

Paying on behalf of a Group

One person in the house should be nominated as responsible for collecting rent from each of you, and they make payment. You can collect the rent a number of ways, from the old fashioned 'cash in the rent jar' or get payments made to a nominated bank account whether it be somebodys own or a separate 'rent account'(note that some banks provide 'fee free' accounts, on which you can put all names on the account. It's wise to make 2 signatures to the account for withdrawal).

The best way is to set-up an automatic transfer into the account. Whichever way you choose, keep good records and follow up immediately on anyone that has missed a payment. Make payments regularly and it's a good idea to do so when you get paid, the last thing you want is to get to rent day and have no money left.

If you miss a rent payment or can't pay all of it, communicate the circumstances quickly and honestly to your property manager or landlord. Remember that landlords have rights, and can take legal action against you to recover the rent and their costs, even evict you.

Budgeting

Work out how you are going to ensure the rent is paid on time and all the bills are paid. You can schedule a regular 2 weekly or monthly meeting to discuss these. Some basic tips of helping to achieve this are: