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Updated over 9 years ago on . Most recent reply

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5
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George P.
  • Albany, NY
0
Votes |
5
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Security check bounced ... I screwed up!

George P.
  • Albany, NY
Posted

Hey BP,

So like the title says, I screwed up!
Okay, story time.

I rented my place to three tenants that met each other online. I did a background and credit check on all of them and it looked good.

I requested a cashier's check or cash for the first month's rent / security deposit due at the signing. Two of the tenants had a cashier's check and one brought a personal check. 

The person with the check noted the reason for the check and not a money order was that they were a little short this month due to the double rent payment (their current place plus my apartment). They asked that I cash this check in a week's time so that they can get paid first. 

I gave them the benefit of the doubt (mistake) and agreed. The check bounced.

The move-in date is tomorrow and they haven't moved in yet.
Now, I would like to think it was an honest mistake and everything will be resolved but I have contacted the tenant and they haven't reached back out to me (granted its only been 7 hours).

What are my options here?
Can I prevent them from moving in at this point unless a payment is presented?

Thank you!

PS.  The tenant reached out to me two days ago asking me if their check has cleared. My bank account showed a credit for the check's amount so I said that 'it looks like it did'. The day after, my bank recorded it as a bounced check.

Most Popular Reply

User Stats

13,450
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8,349
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
Votes |
13,450
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Tell the roommates to pick up the slack or find another home. Let them collect from their deadbeat roommate. 

Of course, this is just the first of many adventures in getting paid that you will experience with this individual :)

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