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Updated over 3 years ago on . Most recent reply

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134
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Jayden Hamilton
  • Investor
  • O'Fallon, IL 62269
44
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134
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How do you deal with tenants that pay you with cash

Jayden Hamilton
  • Investor
  • O'Fallon, IL 62269
Posted

I have a lease where my tenants should pay with a check or through a website. They paid me with cash once before, How do I deal with something like this when your tenant is trying to pay you with cash?

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Alecia Loveless
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Alecia Loveless
Replied

@Jayden Hamilton I have it in my lease that tenants must pay by personal check (if I receive one with insufficient funds this is no longer an option and must be one of the following ever after), certified check, cashiers check, Venmo.

If someone wanted a different option electronically I would discuss it but never cash. I don’t want anyone thinking I carry around large sums of money or have the risk of counterfeit money. Also I don’t want my tenants to think I’m going to come pick up their rent.

You have to be in charge and train your tenants to do what you want them to do. If you have their email I’d send an email stating new guidelines for payment of tent stating how you will accept it and that you will no longer be accepting cash and follow it up with a letter or a certified letter.

  • Alecia Loveless
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