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Updated over 7 years ago on . Most recent reply

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Robyn Salawitch
  • Residential Real Estate Broker
  • Baltimore, MD
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LOOKING FOR CLAUSE TO USE WHERE I AM MADE A BILL BY TENANT'S BANK

Robyn Salawitch
  • Residential Real Estate Broker
  • Baltimore, MD
Posted

I am looking to write a clause in my leases where the tenant shall make me a bill to be paid by their bank so I automatically get the rent every month.  Does anyone have a sample of one they use in their leases?

Robyn

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Mike McCarthy
  • Investor
  • Philadelphia, PA
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Mike McCarthy
  • Investor
  • Philadelphia, PA
Replied

I don't understand what you're looking for. A tenant's bank won't give you money unless the tenant specifically authorizes it (and a bill/invoice won't cut it)

I would look into electronic rent platforms like Cozy.co (or others). The tenant can set it to automatically pay you from their checking account each month.

Of course, they still need to do it - and have the available funds in their account.

What problem are you looking to solve?

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