All Forum Posts by: Mike Davidson

^ Does your tenant have Chase?

UPDATE: The tenant called the branch again and was told that the transaction was flagged for fraud. They cleared it for her and it debited her account for the amount. On my end the status still shows "In Process" but the detailed message changed to:

"The funds from the payment to TOTAL CHECKING (...XXXX) will be available the next business day."

I am guessing that this is a better message to have. At this point, I will believe it when I see the $ in my account.

My question to you folks is: Will I have this issue every month? This will suck!

So I got three different answers. The online secured message reply said that the system was going through maintenance and sometimes its normal for chase to chase transactions to take a few days. I called on my way to the bank and they said the transaction failed because of insufficient funds in the senders account. I visited the branch and they called the main office and they said that the sender needs to go to the bank and verify the payment for it to go through.

The tenant visited the bank and they canceled the transaction and initiated a new one. I accepted the payments minutes after the new one was sent. The new one still says "In Process" and its been about 45 minutes. I just called the bank to find out that the new transaction is being suspended and they won't tell me why.

This is beyond belief. This tenant has been with me for 3 years.

This is making me nervous as I am reading the responses here and also seeing horror stories about QP on the web as well. I have sent a secure message from chase inbox but I think I should pay a visit to my branch instead of waiting for a reply in the inbox.

Tenant sent money using chase QuickPay three days ago (for the first time using this service). I accepted a few minutes after it was sent and it was very early in the morning. We both have chase. The status on the payment said "In Process" for one whole day after I accepted. The status changed to "Accepted" the next morning and in the "see detail" link it says:

"The transfer of money will be completed four to five business days after you accept the payment, subject to the processing times of the financial institution from which the sender is sending the money."

Its been like that for last couple of days.

I had though that the transfer is same day or no later than next business day if both parties are using Chase. Anyone experienced this? Do I need to be worried?

I sure can. Thanks for your reply. Its section 24 for me though since I am using the standard lease agreement, not the TAR version.

Thanks!

Existing tenant of 3+ years. I have been with a property management company for all these years but no more. I am drawing up a a new lease myself now which has the Inventory and Condition form clause. As the per this standard lease that I am drawing, the tenant has to deliver the inventory and condition form within "X" days. However, I already have the inventory and condition form from the time the original lease was signed. Should I just use that and cross off 13.B in the new lease?

Thanks!

Bill, That is an awesome idea. I will have to look into that. Thanks!

That makes sense. The issue is that the TAR version of the lease that I have with the tenant is significantly different in some places. What I am mainly trying to figure out currently is that section named "Payment of Repair Cost" The standard lease seems to ask the Tenant to pay a portion of the repair amount. See below screenshot:

The original lease I have with the tenant (which is the TAR version) looks like this:

As you can see there is no mention of the amount in the current lease (TAR version). I have always paid for all repairs except for the tree that had died a couple of times because that was due to negligence. I don't know what $amount to put in that field circled and I would like to keep the lease terms that same as they have been for last many years, if I can help it.

So the lease agreement that the realtors use seems better but it looks like I cannot use it because it has the following text on top of the form:

"USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS® IS NOT AUTHORIZED"

I fired my property management company who was also a realtor shop. They used this form. As I am drawing up my first lease now, and since I am using "CJM 186253v.6", I am finding differences between the new lease and the what was on the original. 

My question is, how strictly is this followed? Can I really not use the TAR version of the agreement?