How much upfront rent should I ask for?

Escrow

Upfront rent is always held in escrow by Flip until your lease begins. See this article for details on when you'll get your rent payouts.

Mid-month Start Dates

Regardless of which percentage of upfront rent you choose, your renter will only ultimately pay for the dates of your agreement. If they move-in during the month but pay for a full month of rent, we'll apply to overpaid amount to their next rent payment.

Examples

Scenario Say you'd like your renter to move in on November 16 and pay $1,000/month until the end of the year. We'll use November as an example since this month has 30 days we can easily split into two 15 day chunks (November 1st - November 15th and November 16th - November 30th)

50% upfront rent If you set the upfront rent percentage to 50%, your renter will need to pay 50% of $1,000 ($500) to move-in. This $500 payment will cover them through exactly the end of November since the cost of staying November 16th - November 30th is also $500.

100% upfront rent If you choose to charge your renter more than 50%, say 100% of your normal rent price, they'll be prompted to pay $1,000 to move-in. We know that November 16th - November 30th only costs $500, so we'll apply the remaining $500 towards rent for the next month.

10% upfront rent If you choose to charge your renter less than 50%, say 10% of your normal rent price, they'll be prompted to pay $100 to move-in. We know that November 16th - November 30th actually costs $500, so after your lease starts, we'll immediately bill your renter for the remainder of November rent ($400).


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