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Updated over 7 years ago,
New Tenant Wants Employer to Auto Deposit Rent Weekly
My new tenant, who will move in Oct. 1st, has requested that her employer automatically deposit rent into our account weekly. Our bank said they would do it and it all sounds good to me, but I have never collected rent like this before. I'm planning to call her employer to confirm and find out what day she gets paid. Just thinking through how to set it up in the lease agreement. She will pay Octobers rent upfront as part of the first months rent and security deposit required to move in. Looking for advice, especially for writing the lease agreement "payment of rent" section, and any potential pitfalls of collecting the rent this way. Thanks for reading my post!