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Re: My tenant is asking for a W9 - what does this mean
by Andy (NY)
on September 1, 2015 @21:29
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I see alot of speculation in these responses, but, no facts. I apologize if I overlooked something. THE REASON A LL WILL ASK TENANTS TO SUBMIT A W-9 IS BECAUSE HE IS HOLDING YOUR SECURITY DEPOSIT IN AN INTEREST BEARING ACCOUNT. YOU, THE TENANT, ARE REQUIRED TO PAY TAX ON ANY INCOME/THE INTEREST EARNED FROM THE SECURITY DEPOSIT, YOUR LANDLORD IS HOLDING, IS SUBJECT TO TAX. Don't freak out: this amount is often just a couple dollars/doesn't amount to much (unless you are renting a multi-million dollar property. Other than this, will never amount to more than a few bucks...
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