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.
Now you know why a higher return is expected for real estate operations than for other investments. PITA.
paypal
ask for POST dated checks, so you have them in advance when u go away
Arrange for a recurring direct deposit from day one of the lease.
Checks, the mail, depositing, all a potential excuse for late rent.
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.
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.
This isn't the tenant's problem to solve.
Overseas for some months? I have not had a vacation of more than 9 days in the last 12 years.
MAV - and?
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.
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