Rent Is Due on the 1st. Your Paycheck Doesn't Care.

RENT, our largest monthly expense, is due on the 1st of the month, but for most of us our paycheck does not match the timing requirements of our rent payment.

If you're paid biweekly, hourly, on commission, or juggling two jobs, the 1st of the month is the hardest day on your calendar. According to research conducted by Flex, fewer than 4 in 10 renters say they consistently have enough income on hand when rent comes due.. According to a recent study from LendingTree's DepositAccounts, 37% of Americans have less than $500 in cash savings. Nearly 3 in 4 renters hit an unexpected budget strain in the last month alone.

Millions of renters end up in a place they didn't want because the timing didn't work, not because they couldn't afford it.

That does NOT have to be our reality.

Today Apartment List is partnering with Flex

Flex is the leading flexible rent payment provider. Split your rent into smaller payments timed to your paycheck. Properties get paid in full upfront. Renters get to match their biggest bill to their actual cash flow.

Starting now, renters on Apartment List will see Flex directly on listings. We are the first platform to put payment flexibility into the search itself. Until today, most renters discovered flexible rent after making the decision on the property and signing the lease. Similar to buying a car and then figuring out the financing. That is backwards and we fixed it.

Why are we so bullish?

• Timing expenses to income just makes sense. Every business matches expenses to revenue, and most of us do the same with our other bills. Rent is the one place we never got the option.
• Timing is as critical as affordability. Most renters can afford their rent across the month. What they can't do is produce all of it on one arbitrary day. Late rent is usually a timing gap, not an ability gap. At properties offering Flex, on-time payments ran roughly 3 points higher and late payments about 2.5 points lower than comparable properties. When we solve the timing, renters and property managers win.
• Nobody should have to settle. Where you live shapes everything else. When flexibility shows up during the search you get to say yes to the home you actually want, not the one you talked yourself into.

Will splitting rent become normal?

Every other major expense has already moved to match how people actually earn, and rent is the last holdout. It's also the biggest one, which is why this changes so much. Ten years from now, paying rent in one lump sum on the 1st will look as outdated as mailing a paper check, and splitting it will just be how America pays.

Our mission at Apartment List is to unlock possibility for every renter. This is what that looks like in practice.

So if you're searching right now, look for Flex on the listing and let it open up the search a little. The apartment you keep coming back to, the one you assumed was just out of reach, might be the one you can actually sign for.

Let's find you home. 🏠

Renters can explore Flex payment options at Apartment List's Flex hub.