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Rent And Utility Loans

Rent and utility loans can be a saviour in times of hardship.  Both rent and utility bills can be a challenge for many people, especially those who are on low income. Low-Income earners often need help. Rent and Utility loans can be a temporary measure to avoid being evicted from your home or having your utilities cut off.

What is Rent?

Rent refers to the amount of money that a tenant pays to a landlord for using the landlord’s property. A tenant is anyone who through a contract with an owner of a property gains access to stay, live and use a property. A landlord, on the other hand, is the owner of the property who gives it out on lease to individuals, institutions and others and takes a payment. This payment through an arrangement can either be monthly or yearly.

The relationship between the landlord and tenants has been defined by different cultural and housing rules depending on the country that the individuals live in. Rent and utilities form an all-important component in the lives of people but it does not come without its challenges. Going in for a rental agreement will require searching from different places and seeking advice before a final decision is taken.

Does Rent Only Pertain To Houses?

Due to the fact that the word “rent” is related to housing mostly, there is a tendency to forget that several other things that can also be rented. There are other things that we need and use that can also fall under rent.

They include;

• Cars

• Bicycles

• Aircrafts

• Office spaces

Farmlands that were commonly leased in 18th and 19th century

• Business machines such as copiers, printers

• Large mining equipment

• Construction equipment such as forklifts, cranes

• Some electrical items such as washing machines

Rent and Tenancy

Tenancy refers to a lease where a tangible property such as land, a space in a building is given out for a period. An amount is then paid to the owner of the property as a form of user fee.

Rent refers to a temporary arrangement where the owner of an asset gives his or her property out to another person also for a fee. The amount to be charged on the asset is usually determined in a contract.

There are several types of tenancy agreements that people make available when they want to rent out their properties. Some are; fixed term tenancy agreement, periodic tenancy agreement, tenancy at will and tenancy at sufferance.

In the same breath, there exist different types of rental agreements. They include; rent-to-own, hire purchase, closed-end leasing.

What Does A Tenancy Document Contain?

When entering into an agreement to become a tenant or occupier of an asset, the tenant always looks out for what is entailed in the contract because money is involved. This will help stipulate the exact terms and conditions as well as the relationship between the owner of the asset and the lessee.

Rent And Utility Loans

These are some of the things found in a tenancy document.

• It has the amount of the rent – This will prevent future problems when it comes to the exact amount to be paid.

• It states when the rent is due- A stipulated time which shows exactly the due date of the tenant to make a payment is important. There will be no confusion as to when to make a payment to the owner of the asset.

• It has the day on which the rent should be paid – An arrangement of this manner ensures that the individual will plan, budget and save accordingly. This will enable the tenant to be timely with payments. It will also prevent any conflicts because the individual will communicate in due time should there be a fallback or delay.

Tenancy Document Also Consists Of.

• It shows what the rent caters for

In some countries, like the UK, phone bills do not pass a utility bill. It mainly covers electricity, water, and gas( does it cater for phone bills, electricity, gas etc)

• It also mentions how the rent should be paid – There can be a different way of paying for rent. It can either be by cash, cheque, standing order or direct debit. There is no hard and fast rule on how the rent should be paid. It will depend on the lessees’ resources and which will be the most convenient way of paying.

Are Rent and Lease The Same?

A long-term rent of someone’s personal property for durations that are longer than a year is known as leasing. Rents, on the other hand, are temporary payments for the use of a good or service. Both processes require a contract is signed between the owner of the asset (lessor) and the receiver of the asset (lessee).

The lessee will abide by certain rules and conditions regarding the use of the asset. For example, if the asset to be rented is a car, the lessee will be restricted to use it on a personal basis only and not for commercial use.

What Is a Utility Bill?

A utility bill is a bill that shows the main costs that come with running a property whether leased or owned. These include water, electricity, and gas. We simply cannot do away with electricity because it is used in almost everything we do. Gas heats our homes when temperatures drop and are used for cooking. Utility bills as a broader term when used also includes the sewer services that the state or council provides to us.

Utility bills include a breakdown of how much units you have used on a particular service. These bills are normally sent to your address. Utility bills are what helps us to keep track of how much of these services we are using. The amount we owe to those who have provided us with these services is also factored in on the bills received.

How Were Rent and Utility Being Catered For In The Past?

Before current times, rent and utility were paid for solely from the income that individuals or families made. At the end of the month, you will see parents, individuals seated either in the hall or at whatever convenience place. Small papers will be put on a table with possibly a calculator ever-ready to punch in the figures to know how much was supposed to be paid. Resources were pulled together from the family’s finances and then used to cater for the bills.

Sometimes, when times were hard and people were faced with the possibility of being thrown out of their houses, they resorted to family and friends. These friends or neighbours will accommodate them for a while until there was enough money for the rent and utility bills.

Most current rent and utility loans providers were not easily found as they are today. There was not easy access to their services unless their agents came to your house.

This was a very uncomfortable arrangement and called for an immediate intervention as the privacy of people was involved.

Rent and Utility Loans In The Present

Imagine a life without electricity or even hot water for daily living. That is a situation that nobody wants to deal with because it has an adverse effect on the family and their current living conditions.

When there is no money nor an avenue to pay for your rent and utility bills, taking a short-term loan or personal loan comes as a good option. One thing to remember though is that rent and utility bill payments should be done on time so as to avoid the extra fees.

Rent And Utility Loans Explained Further

Also, the payments that individuals and families have to make monthly towards rent and utility are soaring. The disposable incomes are not able to cater for all the bills that come in. Other expenses for the household have crept in and does not allow for all the income gotten to be used to offset all the bills. Rent and utility loans are funds that are taken with the sole aim of using it to pay off rent and utility bills.

The inability to pay for rent and utilities leaves a huge gap in the overall outlook of the families ability to sustain itself. That is why companies like After loans can give you rent and utility loans. Getting a loan from us will enable you to pay your rent and utility bills from the many short-term loan arrangements that we offer.

In the city of York, Canada for instance, there are services like the Housing Stability Programme which individuals can access to pay their rent and utility. This prevents utility cut off, and possible eviction for unpaid rent as well as utility deposits and reconnection costs.

Rent And Utility Loans Infographic

Rent and Utility Loans As A Short-Term Intervention

Rent and utility loans are made with the purpose of aiding individuals out of short-term financial difficulties. Thus, rent and utility fall under short-term loans. Short -term loans are loans that are usually used to solve a pressing need. The repayment time is usually in weeks or months but less than a year. Pay-day loans, for example, can also be gotten to pay for rent and utility.

Credit Rating With Rent and Utility Loans

Your pattern of bill payments affects your credit score. If you pay your bills on time, it shows that you can be trusted to pay back any loan that is given to you. A constant default in bill payment will mean that your credit rating will be low and hence no loans will be granted to you.

Creditors, therefore, cannot trust you to repay loans on time and you can’t get loans anywhere. This can stifle your efforts to pay your rent and utilities especially if you do not have enough money to cover its payment.

How Rent-Reporters deal with Credit Rating 

You can also request for the services of a rent-reporter who will charge a small fee. These agencies will ensure that your credit rating is reported to the bureaus. Your landlord may have to verify the details of your rent payment.

This is a requirement of some rent-reporting service providers so that information being sent will be accurate.

How To Get Rent and Utility Loans

1. Find a service provider who understands your needs and is willing to provide you with the loan.

There are several service providers who are ready to help individuals get rent and utility loans when they need them. Most of these companies now have websites. By the click of a button, you can get someone to either speak to or have a live chat with.

This makes it very convenient and easy to get help to pay for utilities when you most need them.

2. Assess your current bills to know which ones to pay for.

You have to go through the different bills that are coming in for the month. This will enable you to know clearly how much funds to allocate to rent and utility.

Getting Rent and Utility Loans Cont’d

3. Apply for the rent and utility loan

At the click of a button, you can fill in a form with your name and other necessary information the loan company requests. In some cases, your loan can be ready in 24hrs.

4. Arrange with the provider on the repayment terms

This is an all-important step because it affects your credit rating. The utility companies share your credit rating with the credit bureaus. Having a negative credit rating as a result of defaulting in the payment of your rent and utility loans can affect you.

Reasons Why People Choose Rent and Utility Loans

1. Their monthly income cannot support additional rent and utility. Other expenses can make it impossible to meet up with monthly payments for rent and utilities. You have no option than to go in for a loan that can help cater for it.

2. When there has been a significant increase in the amount of rent and utility that has to be paid due to a general rise in prices. When there is an increase in utility tariffs, is possible that the current budget may not be able to cater for utility and rent payments.

3. In the case of unexpected expenses such as the death of a loved one or medical bills due to a sickness. This causes a strain on the current budget being used to manage the home and rent and utility loans are gotten to pay for the bills.

Other Reasons Why Individuals Go In For Rent and Utility Loans

1. Another situation can be that you do not have access to your savings or you have exhausted it. This means that you would have to look elsewhere for funds. That is where rent and utility loans prove useful

2. In some cases, the landlord is uninterested in any of the reasons you’re giving for the fall back in payment. An effort to explain to your landlord why rent has delayed may not always fall on willing ears.

This presents a challenge especially when there are no funds to pay for the rent and utility bills. This problem can be solved by going in for a rent and utility loan.

3. When family and friends could not help you to pay the bills.

Consequences Of Not Meeting Rent and Utility Payments

• Your services may be disconnected.

When you are not able to pay your utility bill, your services will be cut off. This is especially true in the case that your electricity, water, and gas is being provided by one company.

• There is a possibility of having to pay a reconnection fee

In the event that your utilities are disconnected, you will have to pay a reconnection fee for the services to be restored. This brings the extra cost to the individual.

Further Consequences Of Not Meeting Rent and Utility Payments.

• Being evicted from your home

In Arkansas, USA, laws are very strict on rent. When you default on a rent payment, you get a ten-day eviction notice. If you don’t pay up or move out of the house, the police can be sent to arrest you and you may be in jail for 90 days. It was just until recently that some amendments have been made this law.

• You may be charged a late payment fee.

This is because a late payment is equivalent to almost defaulting in paying for your utility loans.

Benefits of Rent and Utility Loans

Rent And Utility Loans

1. It serves as a timely intervention for those in need of paying their rent and utility bills. When all options in an effort to pay your bills are exhausted, rent and utility loans serve as the best means to pay up your bills.

2. Due to the fact that the application process is bound by a contract, the terms for the relationship between the tenant and the owner are clearly defined. This prevents any form ambiguity in the amount, how and when payments should be made.

3. Rent and utility loans enable individuals to have an extra source of income to cater for their bills. The funds gotten from the loans will be solely used to pay for the bills.


Rent and Utility loans are very instrumental in sustaining households. Being thrown out of your residence because of a fall back in monthly payment is a situation everyone wants to avoid. With a good credit rating, you are likely to get the loan that will help you to offset your bills.

It is advisable that you pay back your rent and utility loans on time so as to avoid extra cost being added to what you already owe.

Another way by which you can avoid late payments of utility bills is to set up a direct debit with your bank. In this case, the utility service providers will directly deduct the monthly fee you owe from your account. You can also set a reminder when the time for payment is drawing near.

Disclaimer: All loans offered through this website are subject to credit and underwriting approval. is a lead referral company, not a lender. AfterLoans only works with financial service providers that adhere to Canadian laws and regulations.You can borrow up to $20000. Loans amortization is between 6-36 months. APRs range from 19.99% to 55%. The actual APR charged will depend on the lender’s assessment of your credit profile. For example, on a $1000 loan borrowed for 12 months at 29.9%, the monthly payment will be $97.24; with a total repayment, including interest, of $1166.88 There is also lender’s optional loan protection policy. In the event of a missed payment an insufficient funds fee of around 45$ may be charged (dependent on the lender). If you default on your loan payment plan the lender may terminate the plan and the remaining balance will become payable immediately. Our lenders employ fair debt collection practices, but will pursue the payment of Outstanding debts to the full extent that Canadian law allows.