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Tenant wants to transfer rent to my acct monthly - Landlord Forum thread 357570








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Excuses!

Tenant wants to transfer rent to my acct monthly by Jason (PA) on May 25, 2018 @03:51

                              
I have a new tenant who is currently on SSD and receives her funds on he 3rd of each month. I asked her to mail me the check on the 1st and I wouldn't cash/deposit it until the 3rd, but she is adamant about transferring funds from her bank to mine.

Is this secure and safe to do..?
[ Reply ] [ Return to forum ]

Re: Tenant wants to transfer rent to my acct monthly by Anonymous on May 25, 2018 @05:18 [ Reply ]
Yes it is safe to do and our government does send its money on time each month I don't allow tenants to do auto deposits or efts into my account simply because it puts another entity (the bank) between me and my tenant. Eft or aft direct by their bank allows them to point a finger at "some odda guy done did it". If the tenant decides to be a wise guy. Also,....big factor is tenant can give Ll money AFTER LL starts process of eviction. Although LL can claim in court that tenant did that, judge might bounce the case, causing a restart.
Re: Tenant wants to transfer rent to my acct monthly by Anonymous on May 25, 2018 @05:22 [ Reply ]
You can't stop tenant from having their bank issue a check each month direct from their bank, mailed to you,.....which you can then deposit into your account upon receipt,.......or return to tenant as refused.
Re: Tenant wants to transfer rent to my acct monthly by Anonymous on May 25, 2018 @07:05 [ Reply ]
Open a separate account for the tenant to deposit rent into.
Keep it separate from your main operated acct.

If you have to evict T in the future. Send a notice that money is to be mailed or give directly to you for any rent payments. Close the bank account so no more money can be sent that could derail an eviction process.

Re: Tenant wants to transfer rent to my acct monthly by anon on May 25, 2018 @13:36 [ Reply ]
I use the LPA linked company and love it: ClearNow.com
Separate checking account
Re: Tenant wants to transfer rent to my acct monthly by Stephen (Washington (WA)) on May 25, 2018 @14:44 [ Reply ]
In regard to transferring funds. I am starting to use Cozy to have some tenants transfer funds electronically. I also have one tenant who is using ZellePay. ZellePay works for rent payments only between banks that Zelle partners with so that is why I'm starting to move toward Cozy (www.cozy.co).
Re: Tenant wants to transfer rent to my acct monthly by Nicole (PA) on May 25, 2018 @19:43 [ Reply ]
I'm old school. I have ZERO reason to involve an entity between me and my rent money. Tenant to me with no one in between is the way I like.
Re: Tenant wants to transfer rent to my acct monthly by MrDan on May 28, 2018 @23:53 [ Reply ]
I believe that everyone has missed the obvious. You have a disabled tenant who has made a 'reasonable request' from the landlord. As a 'reasonable request' this should be easy to set up for the tenant. Ignoring or prolonging the approval of such a 'reasonable request' is the same as denying the request. Also adding special conditions to such a request would also be in violation of Fair Housing laws.
Re: Tenant wants to transfer rent to my acct monthly by Jill (OH) on June 18, 2018 @19:25 [ Reply ]
We did this with a tenant we had who was visually impaired. It worked out fine. I set up a separate free checking account at my bank specifically for his deposits. He was very conscientious about getting rent in on time. Since that tenant moved out, we started using cozy for all our properties and it works fine.

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