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General Property Management
When and How to collect initial payments??
W
William C
started a topic
over 14 years ago
Can someone please give me a brief synopsis on how to obtain a brand new tenant's deposit and first month's rent. Obviously the deposit is taken before move in. What about first month's rent. Say they move in mid July and sign for a one year lease? Does this really mean they owe the rest of July and then the year starts in August? Thanks!
1 Comment
D
Denise S
said
over 14 years ago
I usually take the first months rent and security deposit either ahead of time or at the Lease signing but always BEFORE I hand over the keys. I handle mid month move-ins in different ways: 1) by starting the Lease at mid month making the rent due in the middle.or 2) Have the tenant pay the pro-rated rent and have him pay the first full month rent when it is due. or 3) Have the tenant pay the pro-rated amount along with the first full months rent before move in.
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