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As a landlord, I insist on writing a receipt for everyone who pays cash, whether they want to take the receipt or not (some of our long term tenants don't bother anymore for some reason). By writing the receipt in my book, if the labels on whose cash is what gets lost, or the cash gets intermingled by mistake, I have a written record in an easy to find place.
I also offer everyone who brings a check into the office the option of a receipt. Most tenants who pay by check don't bother, but a few appreciate it.
A few tenants who mail their rents who like a receipt to be emailed to them upon our receiving the check. As long as they put a note in each month that reminds us what email to send to, I have no issue doing that either.
I have two separate tenants who insist on paying cash. It's a pain, because I have to make an appointment every month to meet with them to pick it up, or sometimes they pay with 20's, and then I have to carry it around. I never had any problems though, except for a day late every so often. This month, when I brought cash to deposit, there was a 100 dollar bill that the teller scrutinized, then marked with a pen. Everything seemed alright, until I recieved a call that one of the notes were counterfiet. Although the bank could not 'prove' it was my money after they had comingled it with their till, I do believe it was with my deposit. With that, my tenant did make good on it. The bank does not return counterfiets, so the tenant is out the money.
Let this be a warning, not to accept cash from the public, if you can avoid it.
You can record all the serial numbers of the notes to make sure if any of them come back, it was yours.
Another interesting lesson learned from being a Landlord.
Actually, I know someone who rented a place and the person collecting the rent for the LL explicitly told him on day one that they accepted cash only and no receipt because (he said) the LL wanted to evade tax. I wonder, in case of conflict, who would likely be the winner in the court.
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