We understand that life sometimes happens and there may be times when residents get behind on their payments. Below is the process Jetty takes and how you can get back to current
- If there is a balance left on your Jetty account after the 24th at 9pm ET of the month your account would be considered suspended from Jetty Rent
- Suspended means that the loan is still active, but Jetty will not be making the next rent payment on your behalf
- This means it is up to the resident to pay their own rent on the 1st of the month
- The account will remain in a suspended status until the overdue balance is paid off
- If the balance is not paid off the account will be charged off and sent to collections which could negatively impact your credit score
- If you are having trouble making your payment please contact us and we will work with you to get a payment arrangement setup that meets your needs
- Refer to how to make a payment process here
- Once your past due balance has been resolved, you will automatically be re-enrolled to the program and Jetty will begin paying your rent again
- If the balance is paid off by the 24th of the month by 9pm ET and there is no overdue balance with your property, payments will resume on the 1st
- If the balance is paid off after the 24th then the payments would resume the following month and you would be responsible for paying the property directly on the 1st
- Ex. Paid off as of 5/23, Jetty resumes rent payments 6/1
- Ex. Paid off as of 5/27, Jetty resumes rent payments on 7/1 and you pay the property directly for 6/1 rent
There are no fees associated with late or multiple payments; however, Jetty has the right to report your payment history to the credit bureaus. If you would like to unenroll from the service please let us know by following the process found here.
Please note that any past due balance is still owed after the loan is closed and any account that does not cure and is sent to collections would no longer be eligible to enroll in Jetty Rent in the future.