Rent Payment Policy

Cox Realty requires all tenants to pay rent on time. Late payments create challenges for both our management team and the property owners we represent. The following outlines our standard rent payment policies.

Rent Due Dates & Late Fees

Unless otherwise stated in writing in your lease agreement, rent is due on the 1st of each month.

A grace period is provided until 5:00 p.m. Mountain Time on the 5th.

  • If rent is not paid by 5:01 p.m. on the 5th, a late fee of 5% of the unpaid balance will be assessed.
  • An additional late fee of $10 per day will accrue thereafter.
  • Total late fees will not exceed the maximum allowed by Utah law (10%), in accordance with Utah Code 57-22-4.

Accepted Rent Payment Methods

Rent payments may be submitted at any time through Cox Realty’s online tenant portal, which is available 24/7.

We strongly encourage tenants to submit payments on time to avoid late fees and potential legal consequences.

Credit Reporting

Cox Realty is a partner with Experian RentBureau. This means your rent payment history may be reported to your credit file.

  • On-time rent payments can help build a positive credit history.
  • Late or missed payments may negatively impact your credit.

Returned Payments & NSF Fees

Payments returned for insufficient funds (NSF), including bad checks, are subject to additional fees.

  • $20 service fee
  • $15 collection fee
  • Total NSF charge: $35

Please note that Utah Code 76-6-505 allows for misdemeanor or felony charges related to issuing a bad check.

Legal Notices & Enforcement

If Cox Realty is required to issue a 3-Day Pay or Vacate Notice or take legal action due to nonpayment of rent or lease violations, the tenant will be responsible for:

  • All related legal and administrative costs
  • A $50 fee for each legal notice served

Important Disclaimer

The information provided on this page is for general informational purposes only and does not constitute legal advice. Cox Realty makes no representations or guarantees regarding the completeness or applicability of this information.

All prospective tenants, co-signers, and lessees are encouraged to review their actual lease agreement and consult with a qualified professional if clarification is needed.