General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
Paying Rent Upfront But Limiting Access to Landlord - Legal?
Hi everyone,
So I have a bit of a conundrum. Let's ignore for a moment that the potential tenant in question may not be a good tenant. I am specifically seeking advice from a legal position.
Situation: The tenant wants to pay 4 months rent up front. The legal statute says I cannot accept advanced payments beyond the first two months.
But what if: The money is actually placed in an account that isn't accessible to the landlord and will only receive the correct due amount on the actual due date for rent? If the account doesn't belong to the landlord, and they're not getting the rent in advance, then is it legal?
I've been trying to get an answer to this but people are not answer my phone calls about generic questions, which is difficult because I haven't found the answer online yet.
What do you guys think about this? Eventually I will get a lawyer to answer this for me, but for now, I'd like to know what your thoughts are on this.
Thanks!!!