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Snow, I didn't say cash..I said MO or cashiers check.
Ms_Christina...yes, MO can have a stop payment put on it, so can a personal check, so can bill pay, so can Paypal, so can just about any form of payment other than cold hard cash in your hand. This is why I suggested cashiers check as well.....it can't be stopped..and for this tenant, that would be the only way I'd accept payment.
I believe requiring cashier's checks and money orders is the same as requiring cash. That's always been my understanding. I could be wrong, of course.
As far as PayPal, the trick is to empty the PayPal account asap, if you're afraid of PayPal freezing your funds, which I think is highly unlikely.
If the tenant used a credit card through PayPal, they could dispute the transaction. All the OP would have to do is show it's a valid debt/payment, IMO.
As far as a debit card payment for rent via PayPal, I doubt the tenant could do anything about a fund transfer after the fact.
I see that you are only comfortable with a cashier's check, and that's okay for you, of course. Personally, I love PayPal. Easy peasy for all.
We're thinking of renting to a tenant with an eviction on her record. The good is that she has a decent job (LPN) that she's held for a long time, and a second job, so she can afford it. She also has on hand the maximum deposit the law allows - two months, and first month's rent, and can take it the first of the month. The bad is an eviction.
I am not eager to take this tenant, because of the eviction. However, financially, it does seem to make sense, because we wouldn't be able to get the place rented this month otherwise (that's over a thousand right there), and we'll have a two month's deposit. My husband has met her and feels more comfortable about it.
I'm trying to figure out some way to feel more secure that we'll get paid. Will employers do automatic payroll deduction to pay rent? If it were coming out of her pay before she gets it, I'd feel more comfortable about it. That way, the tenant has to go out of her way to cancel the automatic payroll deduction, and we'll know to begin eviction the minute the rent is late.
Anyone with any other ideas for establishing a large cushion to cover the eviction time in case she doesn't pay rent? It's been our experience that an eviction usually takes about six weeks and under $500 in our area.
Run a credit report on her, that will show a pattern if there are other problems or other past evictions she didn't tell you about.
Yes, you might get that $1000 and have $2000. but how long can she drag it out to live rent free is she wants to?
Run a credit report on her, that will show a pattern if there are other problems or other past evictions she didn't tell you about.
Yes, you might get that $1000 and have $2000. but how long can she drag it out to live rent free is she wants to?
Post is over a year old. I'm sure the issue has been resolved.
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