Should you pay your rent in a single cheque or multiple cheques? Know the perks, risks

Should you pay your rent in a single cheque or multiple cheques? Know the perks, risks

Dubai: After a recent spike in rental demand, more tenants have been paying their rents with one cheque since late last year, as opposed to it paying in four or more cheque payments, primarily because landlords prefer to get all their payments upfront and take advantage of the wider rush to rent. But doesn’t that put tenants at a disadvantage, if they pay off all of their annual rent in one go? What are the downsides to doing so as opposed to paying their rent in four, six or even 12 cheque payments? If anything, the financial risk that could entail is significant. Let’s delve deeper and find out more. “Landlords have been asking to be paid upfront in one cheque,” said Andrew Bailey, a real estate consultant currently working out of Abu Dhabi. “But in order to get tenants to agree to pay a lump sum right away, rental rates vary on the number of cheques paid, the cheapest being a one cheque payment. “However, not everyone has an entire year’s rent available at their disposal, this is why many resort to multiple cheque payments. While paying in multiple cheques often means paying more, it does help tenants avoid