Land lords experienced with post dated checks as payment
Hey guys, I was wondering if any land lords out there have had any experience with requiring or prefering tennants to post-date checks for the duration of a year or the lease.
I have thought about requiring this as I feel it makes it easier for the land lord as well as the tennant. My only concern is, since my property targets lower middle class, potential tennants may be turned off from this for fear of not having enough on their account in case of an emergency.
I was hoping to hear experience from seasoned land lords who have imposed this or has had experience with it.
Most Popular Reply
John,
I Don't think it's reasonable to ask tenants to do this. As much as you think it would be helping and or benefiting you, it does nothing for the tenant but potentially put them in a bad spot. And as the rest have mentioned I think you will limit your pool of tenants.
After all how would you like it if your mortgage or utility Co. required you to do this as well? I do have direct debts automatically coming out monthly from my checking account to pay my mortgages but that is by choice. There is a big difference between by choice and being forced to do this...
Screen your tenants well is your best defense.
best regards,
Chris