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Updated almost 10 years ago on . Most recent reply
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Post-dated Rent Check Overdraft
So I'm a brand new landlord; I've had tenants in my townhouse since 1-Feb. For their 1-Mar rent payment they paid with a personal check a few days before it was due, and I just happened to hold the check and deposit it on 1-Mar.
Just yesterday (30-Mar) they gave me a check dated 1-Apr for April's rent. We never agreed that I would hold it until 1-Apr, so I immediately deposited it around 10pm on 30-Mar. I guess since we use the same bank it came out of their account the next day, before their pay checks were deposited and they were hit with overdraft charges claimed to be roughly $105. This is because multiple small transactions hit the account after it first overdrafted and the bank wants to charge for each overdrafted transaction.
So they are asking for a credit on the next months rent to cover some or potentially all of the overdraft charges. I don't believe I'm liable for any of this as it was their responsibility when they wrote the check...but I do want to be a somewhat compassionate landlord so I'm considering paying half of a single overdraft ($35 so my half would be $17.50). I believe they should be able to work it out with the bank to remove those other overdraft charges.
So what would you do?
-Give them nothing?
-Give them $17.50?
-Give them $35?
-Or give them $105?