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Cashing a post-dated check by Ezra (MA) on January 5, 2010 @23:24

                              
I received a check from my tenant which should have been dated 1/4/10, but which was dated 1/14/10. The tenant didn't contact me at all saying they were going to post-date this month's check. And they signed a one-year lease and have been there for three months now and have paid rent right on time so far.

I was thinking it may have just been a mistake with them writing 1/14 instead of 1/4, and I was just going to try and cash it tomorrow anyway. But now I'm wondering if I should check with the tenant first or something. I didn't even notice the incorrect date at first, until I took another look at it.

Would you just cash the check or would you contact the tenant first to see what the deal is? If the post-dated check was rejected, would I incur any sort of fee from my bank? As far as I can tell from what I've read online, they would be the ones to incur a fee and it would only be if they have insufficient funds in their account. Does this sound right?

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Re: Cashing a post-dated check by RestlessKnight (NJ) on January 6, 2010 @01:32 [ Reply ]
I wouldn't notice it and deposit. If I noticed it I'd deposit anyway. No games I didn't sign up for. If they asked it would be different.
Re: Cashing a post-dated check by Anonymous on January 6, 2010 @11:16 [ Reply ]
I would suggest taking that check to their bank to cash. If you deposit it into your account and there are insufficient funds, you will be charged a fee from your bank (which you would then charge to the tenant.) Taking it to their bank saves you any fees. If there are NSF to cash it, they will tell you there without penalty.
Re: Cashing a post-dated check by OK-LL on January 6, 2010 @11:17 [ Reply ]
If we didn't make alternate payment arrangements before the due date, I'd just cash the check no matter what date is on it. It is legal tender at the time it is provided to you and the date means nothing to the bank. In my world, it's the responsibility of the tenant to make requests for special payment arrangements BEFORE the due date. If it bounces, you will be charged whatever your bank charges (BOA is $6), which you will charge right back to the tenant. Her bank will likely charge her about $35 to return the check NSF, so tough luck to the tenant.

Bank it today, but don't spend the $$ until the check clears.

Re: Cashing a post-dated check by Kim (FL) on January 6, 2010 @11:39 [ Reply ]
I love cashing tenant checks at their bank! Cash on the spot, no waiting, wondering, charges, etc.
Re: Cashing a post-dated check by Ultimate M-Bone on January 6, 2010 @14:19 [ Reply ]
Ezra, it appears that the tenant may have tried to slide one past you. I am banking on that check being no good. If a tenants check bounces on me after depositing it in my account, my bank charges $35.00 to me. So do not deposit it.

Take it into the bank and ask the teller to cash it, but to check first if there is available funds to cash it so it does not go against your account, do NOT put your checking account number on the check, it is not neccessary to cash it at the bank it's drawn on. If after you find out that the check is no good because your tenant expects you to see that it was post dated and you are expected to hold it until then, you have to address this issue now. I would NOT tolarate a tenant giving me a post dated check especially not informing you that it's no good until that date. That is worse than a tenant asking if he can pay his rent on the 14th. I personally don't let tenants go that long without rent before I give them a 3 day notice.

I had a tenant who mailed the rent to me for this month, this was the first month that she sent a personal check since I do not accept personal checks for the first 6 months. I got the check Jan. 2 Saturday, I couldn't do anything until Monday, which I called the bank to verify the funds, low and behold it was no good. I called the tenant and she claims that she didn't get the chance to run her money to the bank that Saturday but was on her way to deposit money into her account so that the check would be good by the time it would hit her bank after I deposit it. Well, I don't work that way or take chances. Since her bank would not have been able to verify the funds for me that day as her check she was depositing would not clear until the next day. I told her that she had to bring the rent in cash or money order including the late fee. I would not accept that check. She couldn't do it that day obviously because she would not have cleared funds in her account until the next day which she did bring to me last night. She's mad because I did not trust her to deposit her check into my account and she had to bring it to me.

I am thinking of making a change to my leases that I do not except personal checks ever. When I do get them, I will always call their bank to verify before depositing it, more work for me that I should not have to be bothered with.


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