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General Property Management
Payment of Rent
R
Ranny M
started a topic
almost 16 years ago
Hello all, I am a new landlord planning to rent my house in March and wondering how you all collect rent? I don't plan to rent to Section 8 so I am assume payment by personal check or cash? Do tenants pay in other ways such as transfer of money from checking accounts? Thank you.
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D
Denise S
said
almost 16 years ago
Payments can be accepted in whatever way you agree to. You may accept cash/money order/check or credit card. I personally do not like having my tenants directly deposit the money into my account. If there is a problem and you end up trying to evict; some states do not permit a partial payment. If your tenant decides to deposit that partial payment into the account, you cannot stop it, depending on the court and the judge, that could hold up an eviction case.
R
Ranny M
said
almost 16 years ago
Appreciate the quick response. What way do you agree to payment type -- do you note it in the rental agreement or just agree verbally?
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