Re: Accepting lump sum rental payment at start of leas

Re: Accepting lump sum rental payment at start of leas by Anonymous on August 23, 2014 @02:05

Collect first, last, and security deposit. I would use a month to month agreement, so when they get out of hand, you can rid yourself of them easier. I don't mean to sound hard, but you are dealing with students here, who are young.

By the way, you never write a lease that does not comply with the state's rental laws. Just as you never accept rent that far in advance, because if you are going against the laws of the state, the court will never rule in your favor when they decide to be irresponsible and damage your property, or not pay the rent.

It doesn't matter what the students say, talk is cheap, and actions speak louder than words.
Request the rent on the day it is due. Your option is to use a good lease and enforce that lease. Make sure you explain to them the requirements of paying the rent, and the consequences if the rent is not paid.....as well as any damages as they occur.
You make the rules, and will have to inspect regularly to make sure there are no damages. Accepting rent ahead of time because tenants don't have enough sense or enough discipline to park the rent in their bank account is just setting yourself up for failure.

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