All Forum Posts by: Samuel H.

I don't provide keys or sign the lease until after tenants provide confirmation of utilities in their name as of the start date of the lease. I also don't do any of that without all move in funds collected/cleared.

Max, I wanted to follow that exact process. However, I'm currently dealing with a utility company that won't transfer utilities (or let a new tenant sign up) until they present a signed lease, showing that they live there. How do y'all handle situations like that?

0 Votes

Quote from @David M.:

@Samuel H.

Why a business account? Could still do a personal account. Or, get checks without your home address written on the top.

Are you handing over the check or mailing it? If latter, might as well do an online bill pay from your bank account. Then, a bank check is mailed out..

It's just what we've decided, so far.

I'll be mailing the check. An online bill pay sends a bank check out? I didn't realize that! I'll check into that option, thanks.

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Bryan-College Station, Texas

Quote from @Nathan Gesner:

Quote from @Samuel H.:

Just because someone has your account number doesn't mean they can steal your money. People have given out personal checks for decades and they are completely safe.

You should give the money out in the same manner you received it. If they paid by personal check, refund by personal check. If they required them to pay with money order or online, use that method.

Yes, I'm not paranoid about the account, per se. I'm more worried about revealing my personal home address. I'm in the process of setting up a business checking account, but it's not ready yet.

Thanks!

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Bryan-College Station, Texas

Quote from @David M.:

@Samuel H.

I just write personal check.... If you really didn't want your tenants to know your personal info, you should have opened another checking account ahead of time.

Out of curiosity, I suppose then your State doesn't have another requirements on how to hold a security deposit?

You could send a Zelle payment from your bank. paypal or Venmo?

There really isn't anything wrong with "paper" payments. Its still legal tender. For that matter you could hand over cash and have them sign a receipt. It doesn't need to be that complicated.

Yes, I'm in the process of opening another account, but there are several hurdles that I haven't been able to jump, yet.

As for my State (TX), no, there are no specific requirements about how to hold the deposit. Just the timing of when it must be refunded.

Yeah, I'm fine with paper payments and personal checks, etc. I was just curious about how others do it here, and what your opinions are.

Thanks for answering!

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Bryan-College Station, Texas

Hello BP! I'm a new landlord here, and I just had my first tenant move out (it was a VERY short lease). I've gone through all of the steps for moving out, and now I only have to return the security deposit. What method do y'all use for the refund, when you send the Disposition of Deposit?

A Personal check? I don't really like this option because it would have my personal info and account number there.

A Money Order/Cashier's Check? This would be vulnerable to theft, right?

Online Options? I use TurboTenant for rent payments, but I don't know if there's an option there for refunds.

Anything else? Let me know what y'all prefer to do.

Thanks!

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Bryan-College Station, Texas

All Forum Posts by: Samuel H.

Samuel H. has started 1 posts and replied 5 times.

Post: Transfer Utilities to Tenants

Post: Security Deposit Refund Method - Money Order or Bank Check?

Post: Security Deposit Refund Method - Money Order or Bank Check?

Post: Security Deposit Refund Method - Money Order or Bank Check?

Post: Security Deposit Refund Method - Money Order or Bank Check?