Cashiers Check Deposit- What Are the Red Flags for Fraud?

[Brook W.]

Hi Everyone. I am a small time (3 units), small city investor. I have mostly rented to people who are somewhat connected to my social network in my small city. There's a certain comfort with local people who are well woven into the fabric of my neighborhood. Also, my tenants, for the past 5 years or so, have all preferred paying rent using the electronic payment system I have set up.

I am renting to a couple relocating from out of town for the first time ever. We have emailed and done a video walkthrough. I told them about the electronic payment system but they want to bring a cashier's check when they arrive in town the day before they move in. 

I've been doing this for quite a while and have seen some ridiculous things but so far I haven't had any big financial problems, besides one tenant (out of about 15!) who was chronically late on rent (but I got the money in the end). 

Would the cashier's check raise a red flag for you? I can see an issue in that I haven't asked them to send the deposit prior to the time they move to town. I looked up cashiers check fraud, and it mostly has to do with goods. The one big issue I could see coming up, is if they move their stuff in and I'm not able to cash the check. It might take months to get them back out.