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Updated almost 6 years ago on . Most recent reply

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140
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Doug Phillips
  • Realtor
  • Cincinnati, OH
53
Votes |
140
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Collecting Rent for the first month

Doug Phillips
  • Realtor
  • Cincinnati, OH
Posted

Hi BP,

Currently setting up our online payment for collecting rent, but until then, this first month I will have to collect it by other means-  I know Cash is DEFINITELY a no-no, but is a money order ok for the first month?  I don't want them mailed to my home address (as well as fear of "I mailed it out but it must of gotten lost in the mail"), so would a money order be acceptable for this time until online payments can be set up?  Thanks!

Most Popular Reply

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Dennis M.#5 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Erie, pa
9,406
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Dennis M.#5 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Erie, pa
Replied

Cash is a no -no ? For me it’s a yes yes ! In my world I’ll take cash every time . What if it’s counterfeit? Well what if that check or money order or western union money gram is counterfeit ? What if your held up by thugs , well how does that matter if I get robbed I get robbed and my wallet and security is gone either way . Oddly enough Ben Franklin never bounced out of my pocket he was universally accepted everywhere he is instant value in all markets with all people and for some folks he has great tax advantages

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