Paying Rent

Dues

This page provides an overview of the co-op's policies around rent payment. For the complete rent payment policy, see here.


Paying Rent & Other Dues

Rent and other charges (food, utilities, slush, etc.) are due on the 20th of the month before each month in your lease. (So, for example, October's charges are due on September 20th.) There is a five-day grace period after the 20th during which you can submit your rent without penalty. For more info about how charges get decided/calculated, see Use of Co-op Funds.


Payment Methods

You may pay your monthly charges using either of the following methods. (Cash is NOT allowed.)


  • Check. You may pay your charges with a personal check or money order submitted to your house's Accountant. Checks must be addressed to “MOSAIC Communities.”
  • Chase QuickPay. If you have a checking account with Chase Bank, U.S. Bank, Bank of America, Capital One, First Bank, or Wells Fargo, you may be able to pay your rent electronically through Chase QuickPay. Ask your house's Accountant for more information.

Payment Plans

Can't pay your rent by its normal due date? That's okay! This happens to many people from time to time, and we try to be accommodating of members who run into unexpected financial hardship while still holding folks accountable for their financial obligations to the co-op. If you know you won't be able to submit your rent by the normal due date, you should fill out a payment plan (click here for the blank template).


A payment plan is an agreement with the co-op for how you'll make up the charges you owe. It's pretty flexible in that you get to set the terms of the plan: You can pay your charges in as many installments as you want, and the amount and due date of each installment will also be up to you, as long as you can bring your balance to zero within 12 weeks from the original due date.


When you fill out a plan, submit it to your house's accountant. You can modify your plan with approval of your house accountant at any time, as long as you haven’t missed a payment and the modification won’t cause you to incur any more debt (i.e., by extending the plan past another rent due date). After submitting a payment plan, all further penalties will be waived unless the terms are violated. You may not receive more than three payment plans in a 12-month period.


Late Fees

  • If the grace period passes and you have an outstanding balance of more than $150 at 11:59 PM on the 25th and have not submitted a payment plan, a $15 late fee will be added to your balance. Your house accountant will inform you of your outstanding balance, including the late fee.
  • If you still owe more than $150 and have not submitted a payment plan by 11:59 PM on the 6th of the following month, a further $15 late fee will be added to your balance and your house accountant will send you another reminder about your outstanding balance.
  • At this point you will have until 11:59 PM on the 20th to submit a payment plan form, or pay your balance in full, before the eviction process begins. (For a description of the eviction process, see here. No one wants things to get to this point, so please pay your rent on time or fill out a payment plan when necessary.)
  • If you pay with a personal check and it bounces, you will be charged for any fees the bank charges to MOSAIC. If the grace period for paying your charges has passed (i.e. it is later than the 25th), you will have 24 hours after your house accountant informs you that your check has bounced to either A) submit a new payment, or B) meet with your house accountant to agree to a payment plan, before applicable late fees kick in.


Early Payments

You can always pay your rent ahead of time if you want—even months ahead of time! Sometimes members wish to do this in order to ensure that they have set money aside for rent. If you’re interested in doing this, talk to your house's Accountant to get an estimate of your charges for the coming months.


Security Deposit

All members pay a security deposit to MOSAIC. For the 2016-2017 year, the security deposit rate is $500.

Security deposits will be paid back in full within 21 days (at the latest) after the end of your member contract, with the following conditions:

  • Any outstanding balance you have with the co-op at the end of your contract period will be added to/deducted from your security deposit refund.
  • If you don't properly clean your room when you move out, as determined by your house's move-out policy, then you may have fines taken out of your deposit refund. (Check your house's policy; see old Room Clean and Move-Out Policy here for comparison.)

Deferred Payment during Summer

If you're away during the co-op's Summer period (July through mid-September), you may defer payment for summer vacancy dues until September 20th without penalty (or August 20th if you're only away for July). If you need longer than this to pay off any charges accrued during the summer, you'll have to submit a payment plan, which will enable you to defer payment for summer charges until the end of December at the latest. For more information on summer vacancy dues & reducing your summer charges by helping the co-op find summer members, see MOSAIC’s Summer Rent Policy.