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Small landlord'is going away

Started by commoner
over 15 years ago
Posts: 197
Member since: Apr 2010
Discussion about
A question for small landlords: when you go overseas for some months, how do you deal with the rent checks from your tenant(s)? Is it a standard practice to ask a tenant to arrange a direct deposit for the months a regular check cannot be deposited? Or pay in advance, which is, I think, isn't nice? I'm new to the landlord game; all expert suggestions appreciated.
Response by alanhart
over 15 years ago
Posts: 12397
Member since: Feb 2007

Now you know why a higher return is expected for real estate operations than for other investments. PITA.

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Response by hol4
over 15 years ago
Posts: 710
Member since: Nov 2008

paypal

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Response by TheAmerica
over 15 years ago
Posts: 10
Member since: Sep 2008

ask for POST dated checks, so you have them in advance when u go away

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Response by needsadvice
over 15 years ago
Posts: 607
Member since: Jul 2010

Arrange for a recurring direct deposit from day one of the lease.

Checks, the mail, depositing, all a potential excuse for late rent.

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Response by huntersburg
over 15 years ago
Posts: 11329
Member since: Nov 2010

When you are gone, if a pipe breaks, etc. is there someone to fix it?
I suspect that you ought to have someone to deal with the minor things, including checking your mail and receiving checks. When you are overseas for a few months, you might want that extra comfort of someone on the ground in case of a problem, to receive checks, and to send you a message once a week that everything is going fine.

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Response by jason10006
over 15 years ago
Posts: 5257
Member since: Jan 2009

I had one who wanted me to deposit into her chase account. Its easy with online checking. It takes 5-7 days, though.

Post dated checks? Fuck that shit. Banks will take checks with a future date. happens all the time. A shady LL might "accidentally" deposit your check in advance.

Pay pal generally does not allow you to send enough to cover Manhattan rents.

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Response by huntersburg
over 15 years ago
Posts: 11329
Member since: Nov 2010

This isn't the tenant's problem to solve.

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Response by MAV
over 15 years ago
Posts: 502
Member since: Sep 2007

Overseas for some months? I have not had a vacation of more than 9 days in the last 12 years.

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Response by commoner
over 15 years ago
Posts: 197
Member since: Apr 2010

MAV - and?

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Response by Vintage65
over 15 years ago
Posts: 73
Member since: Feb 2010

Haven't tried them yet, but there are rent payment services you can use. This is just one: http://www.tenantplus.com/

For now, we invoice tenants or have them deposit directly into our account. Not a direct deposit, just a normal deposit into our account.

V65

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