General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
Accepting partial rent in Baltimore, Maryland
Hi,
I searched this forum but could not find an answer to my question.
I want to give tenants only one option to pay - to my bank account. I want them to either transfer money from their bank to my bank, or appear in my bank's branch in person and deposit whatever they have. I don't want to accept cash, money orders, checks of any kind. This way, if the bank is open, I get my money, if the bank is closed, I can wait till it opens next day.
The issue is this: tenants can deposit partial amount, or even $1.00 to my account, and if the eviction is in progress, it may be stalled or restarted from scratch. This is what I learned from this forum.
My question: How do you, landlords in Baltimore, accept rent payments direct to your bank account? Do you accept partial payments? Is there a way to decline partial payments, or somehow not accept them?