tenants wants to pay a couple months in advance?
hey BP, I have a quick question. I have a tenant that just started renting this month. everything been fine so far she even paid today. two days before the first. Now she wants to pay a couple months in advance. should i allow her? feedback please thanks
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@Will Kirkendoll I'll chime in to say, it depends on the situation. I definitely wouldn't 12 months up front. But if it's a one year lease, and someone wants to pay three months in advance, it's not really an issue especially for a good reason. One of my tenants is active military and was away for a bit for training so wanted to pay in advance. No issues.
Regarding the transferring the rent one month at a time between separate accounts, I think that's over complicating it. Through the years my CPA has always stated are long as the rental income it stated in the correct year on my Sch E, it's fine. There's no requirement to keep separate accounts and transfer money back and forth.