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Updated about 4 years ago,
Open escrow account for year rent
I have a tenant who is moving to our area from out of state to rent our place and they want to put up the entire 12 months funds for rent in advance. We arranged this because it was their good faith to ensure they could pay for the place.
I’m trying to figure out how setup an escrow account that ensures I get paid monthly from that pot of money they are putting up.
Has anyone done this before? When I Google around everything g directs me to articles on escrow for title services vs a place where they could deposit the money as a service and funds are released monthly
Thanks.