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We don't specifically request this, but do give it as an option for our tenants who want to do so. We bank at Wells Fargo, which is practically everywhere, so if a tenant is traveling and forgets to pay, it is easy to find a WF and make a direct deposit. I could see a private owner requesting it, especially if they travel a lot and aren't home to receive and deposit the checks. The could sit at the post office in the "hold mail" bin for weeks without getting deposited, which could mess up your recordkeeping if, like most Americans today, you don't keep a check ledger. You could end up bouncing a check when your rent check suddenly clears your account 3 weeks later, because you didn't pay attention.
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Originally Posted by Gasolin
Don't they know wire transfers?!? It really doesn't make sense to drive to deposit a check in a bank, whatever the reason. Especially if they live out of state.
A wire transfer is traceable and you can always show them that you transferred the money. I would go for that option.
We looked into doing wire transfers. The bank on EACH end charges a fee. We were told that between two major banks, the fee is typically going to be in the $30-50 range total. Not feasible.
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Originally Posted by Annie53
Pick up a bunch of blank deposit slips from their bank.
Every month, fill it out with their bank account number, amount of deposit, etc.
Mail it to the bank along with your check.
I always endorse the check on the back "For Deposit Only".
This is what I would do if driving to the bank wasn't feasible. Except it is "For Deposit Only [Account number]".
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Originally Posted by sware2cod
Your bank should allow you to set this up to automatically deposit the money into his account every month. You bank can give you the steps to do this. Usually it's in your online bank account Bill Payment section. Sometimes they call it Bill Pay - Pay an Individual Person. Other bank accounts call it automatic transfer to a person. Others call it Direct Deposit. You need to find out what your bank requires from you to set this up. It's usually a one-time setup and then it automatically transfers the money the same day each month. You typically go into your online acct and enter his name and bank account number and bank routing number and choose the amt and date and check the section that says it is 'monthly'.
It's pretty common these days for landlords to request auto deposit into their bank account. They assume you are doing this electronically - where the money gets transferred from your bank acct into his without you having to write a hard copy check. They don't expect you to drive to their bank to make a deposit. More and more landlords are moving to this method (electronic deposit of rent into landlord's bank acct).
Either this is very difficult to do, or isn't free at most banks. We give our tenants the option of doing this, and give them a bank account number (that is now deposit only and we sweep all excess funds out afterwards) to do so. Only tenants who bank at our same bank (Wells Fargo) have ever done electronic transfers. All other tenants who do bill pay have had their bank mail us a check. Never once had an electronic transfer from another bank into our account, even though we would be fine with it.
My husband avoids confrontation so he'll probably run it around to suit them.
... My husband can't say no to people ...
I don't know how old you both are but life is so much easier when you realize that "discussion" is not synonymous with "confrontation" and that saying "no" doesn't lead to confrontation or discomfort.
I know of landlords that request it to be deposited in their bank. It's understandable and nothing unusual and should be in the lease.
My husband and I pickup rent personally, either meeting the tenant somewhere or at their residence. We have 9 units in the same town so it works best for us. There's many different methods, including drop boxes. We know a landlord who does that also, which works well.
How do I write a check to jkgourmet (simply because you're immediately above me here) and deposit it into his account? Wouldn't I need his deposit slip?
All you need is the account number of the account holder and write on the back of the check
"For Deposit Only" and the account number.
You do not need an "official" deposit slip from the bank account holder, the bank fills one out for you and send the receipt to the bank account holder via USPS.
The lease says just when to pay not how to pay. I didn't want them to have access to our account or us to have access to theirs...I just wanted to send them a rent check. I don't do any automatic bill payments. Don't trust it. That's just me. I'm old fashioned. I like things nice and clean and simple. We'll only be renting for a year before buying again. Have to sell our house out of state first (busy with getting ready for open house here so didn't check in sooner).
There's no chance of it ever bouncing. I'm not sending coins in the mail, so it's not likely to get lost/stolen. It's only going a state away.
I also avoid hassle, so to me it's easier to just mail it monthly. My husband avoids confrontation so he'll probably run it around to suit them. I'll have him read what you all wrote and then he'll be wondering why i asked.
Thanks for all the input, it will help us figure out what to do. I didn't know there would be options. Something that should be so simple. EEK.
It is so simple but you are making it difficult.
The landlord wants you to deposit the check into their account at their bank.
YOU are the one who wants to do something else.
Check the lease you signed and see what it says specifically, then write the check, put "for deposit only" on the back with the landlords account number and drive it to the bank.
THAT is the simplest way to deal with this non issue that you have made an issue.
It is so simple but you are making it difficult.
The landlord wants you to deposit the check into their account at their bank.
YOU are the one who wants to do something else.
Check the lease you signed and see what it says specifically, then write the check, put "for deposit only" on the back with the landlords account number and drive it to the bank.
THAT is the simplest way to deal with this non issue that you have made an issue.
I disagree. The OP has already stated that there is nothing in the lease which specifies how and where the rent is to be paid. If it's inconvenient for the tenant to drive to the bank branch to physically deposit the check every month (it would certainly be a huge chore for me), the landlord can't demand it. If the method of delivery were specified in the lease and the tenant agreed to it, that would be one thing. But in this case it's not.
The issue here is that, for some reason, neither the OP nor her husband feel up to to discussing it with the LL and reaching a simple compromise.
It is so simple but you are making it difficult.
The landlord wants you to deposit the check into their account at their bank.
YOU are the one who wants to do something else.
Check the lease you signed and see what it says specifically, then write the check, put "for deposit only" on the back with the landlords account number and drive it to the bank.
THAT is the simplest way to deal with this non issue that you have made an issue.
It is an issue because they do not want to drive to the bank.
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.....not convenient to us....(they live out of state). There's a branch
here...at a distance not in a good area.
And I don't blame them, so much easier to just drop it in the mail instead of wasting their time and gas and risk driving to a bad area.
In this day and age, how many people physically deliver bill payments?
Most people would scream bloody murder if their water department/electric company/gas company told them they had get in the car, drive through the bad section of town and hand them their payments in person.
How do I write a check to jkgourmet (simply because you're immediately above me here) and deposit it into his account? Wouldn't I need his deposit slip?
No. You just need their account number and you can fill out a blank deposit form at the bank.
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Originally Posted by STT Resident
I disagree. The OP has already stated that there is nothing in the lease which specifies how and where the rent is to be paid. If it's inconvenient for the tenant to drive to the bank branch to physically deposit the check every month (it would certainly be a huge chore for me), the landlord can't demand it. If the method of delivery were specified in the lease and the tenant agreed to it, that would be one thing. But in this case it's not.
The issue here is that, for some reason, neither the OP nor her husband feel up to to discussing it with the LL and reaching a simple compromise.
I totally agree - except for one thing. I wouldn't be discussing it with them. Verbal communication is not a good approach, IMHO.
I'd be emailing them, so that I've got something in writing. And I'd be polite, hoping that they understand that this is inconvenient for me. If they still say no, then I'd be emailing them to say there's nothing in the lease to force me to go to their bank and that I will be mailing them the checks from now on. And I'd be expecting my lease not to be renewed next year.
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I like things nice and clean and simple. We'll only be renting for a year before buying again. Have to sell our house out of state first (busy with getting ready for open house here so didn't check in sooner).
