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All Forum Posts by: Teresa C.

Teresa C. has started 1 posts and replied 3 times.

General Landlording & Rental Properties

Post: Can an llc accept cash rental payments from tenants?

Teresa C.Posted
  • Arlington, TX
  • Posts 6
  • Votes 1

Thanks everyone!  This information really helps. I will have the tenants sign the receipts as well. 

1 Vote
General Landlording & Rental Properties

Post: Can an llc accept cash rental payments from tenants?

Teresa C.Posted
  • Arlington, TX
  • Posts 6
  • Votes 1

Thanks everyone for your input. I do believe that he meant it because of the records but I wasn't sure. In case I ever get sued, there would be a paper trail. I guess I really wanted to know if its possible to accept cash and still keep good records. I currently give my tenants reciepts for their payments and keep a carbon copy. I dont want to contact my lawyer again because honestly, he always seems rushed and it just makes my conversations with him awkward. 

0 Votes
General Landlording & Rental Properties

Post: Can an llc accept cash rental payments from tenants?

Teresa C.Posted
  • Arlington, TX
  • Posts 6
  • Votes 1

Hi, I was told by my real estate lawyer that I can no longer accept cash rental payments from my tenants now that he created a series llc for me. Is this true?  I just find it odd since I've seen other "llc" companies accept cash and give out reciepts.

0 Votes