Re: Tenant wants to transfer rent to my acct monthly

Re: Tenant wants to transfer rent to my acct monthly by Anonymous on May 25, 2018 @05:18

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.

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Re: Tenant wants to transfer rent to my acct monthly by Katiekate (New York) on May 25, 2018 @16:22	[ Reply ]

I’m with you on this one. I had the experience of the tenant claiming the bank sent the check directly from their checking via a bill payer service within the bank. The bank would not talk to me. I was baffled about what to do..finally, I post the 3 day quit or pay. That check never did show up. Nope...My guy will pick up the check on the first of the month...unless you already bounced one on me..then the pick up is in cash. Failure to pay on the 1st results in a 3 day quit of pay being delivered at the same time ...I only pay my guy for one trip. Too many possible games to be played.

Re: Tenant wants to transfer rent to my acct monthly by Anonymous on May 30, 2018 @17:07	[ Reply ]

i am new to being a landlord. i am in a different state (ny) than where my house is being rented (fl). i don't know if this was already answered but i plan on giving the tenant my account number to deposit his check into my account that i set up solely for this purpose. Is this acceptable?

Re: Tenant wants to transfer rent to my acct monthly by Michelle (CA) on May 31, 2018 @02:47	[ Reply ]

My state requires that out-of-area rent have a postmark on the due date, rather than be received on the due date. My tenant wanted EFT, but we discovered that the bank processed the eft in an unpredictable way: took days to get from his bank to mine; a notation at my bank stated that the eft was received, but not the amount. After six days, the correct amount posted to my account. We agreed to hold earnest money until the transaction completed because neither T nor LL wanted to trigger the late fee clause of the lease. How many tenants would do that? I am mentioning the timeline so that you can map out what might happen with a wayward deposit. I like to think that if T and LL were at the same bank, it might be more predictable.

Re: Tenant wants to transfer rent to my acct monthly - Landlord Forum thread 357571