Why not just store them somewhere safe until after the date on the check? You don't have a cash box, a safe, a hiding spot in your home, a locked drawer, no place you could put them for safekeeping? Full Name Use your real name.
But do not get those checks near a bank to hold for you, they won't take that responsibility if some employee sees them and shoots them off to the proof department. In fact, this tenant pre-paid me the first six months of rent, deposit, dating parship and fees in a single check. Post-dated cheques are common and enforceable. Why would it even be a question to potentially harm and overdraw a good tenant?
Real Estate Books Shop books covering real estate investing and personal finance. The bank might not pay it. If you don't agree, return the checks and ask her to mail them.
Real Estate Listings Buy and sell real estate deals or seek out partners, financing, etc. If it doesn't work for you in the future you can advise her that electronic payment by check can be set up to arrive to you on time and she can do that several months in advance. If the check bounces the landlord may have certain civil remedies to help recuperate the promised funds. Mathew's post caught my eye with the link, I didn't read others so this might be duplicating what others have said. Log in Email Password Forgot password?
In most cases, you can deposit or cash a postdated check at any time. With today's online banking and with recurring payments so easy to set up these days, it shouldn't really be an issue anymore, anyway. It would be easier to do that so I can't lose them, reddit los angeles hook up but I could see how that might not be legal.
The tenant may know that he or she will not have the money in time, the check could have a stop-payment placed on it, or the check may bounce. Would you want somebody to due this to you? From looking into the situation, I infer that she doesn't want you to cash them all at once. If you plan to write a postdated check, ask for permission before doing so.
Can I Accept a Post Dated Check From a Tenant
As usual, solutions come before I post. It is common for the terms and conditions of current accounts to state that post-dated cheques should not be written and will be dishonoured if detected. But like people mentioned the reason they are post dated is so you won't cash them before that posted date. Ask your bank about requirements and fees for postdating a check. Of course most people will assume that by postdating it they won't have an issue since common sense says you should not be able to cash it.
- Even if your payee is honest, they may make the honest mistake of forgetting and leaving you with bad check fees.
- Todd, your reminder for us all to treat others as we would like to be treated is a good one.
- Of course, on reflection, it makes sense that the intention was likely intended date of deposit and as I indicated above, that is how I plan to proceed at this point.
Pre-paid rent with post-dated check. When can I deposit it
Usually not months in advance. Unless you set things up correctly with your bank, the bank is free to pay funds out of your account before the date shown on your check. Originally posted by Jeff S. Put them in your underwear drawer.
Dan, Just wanted to add another idea. Debt collectors and other businesses may be prohibited from processing a check before the date on the check, but most individuals are free to take postdated checks to the bank immediately. Where a demand for payment of a cheque is made before the date of the cheque arrives, the cheque shall not, by reason of the demand, be taken to have been duly presented for payment.
If you cause her to have overdrafts by depositing all the checks I'm betting you'll be paying here what could be a ton of overdraft charges on all other checks written. Sounds like you have a good tenant who is responsible. As a landlord, collecting a check that has been postdated could be dangerous.
Find out if the check was intentionally postdated, and figure out a solution. Waiting to cash a check that has been postdated provides the tenant with time to make other living arrangements, move out or otherwise abort the lease agreement. Originally posted by Dan N. If you have the option, it is best to avoid writing postdated checks.
Writing and Cashing Postdated Checks
The requirements depend on your state and your bank, so learn the rules before you write a postdated check. They gave me a cashier's check dated for the following Monday which I did not notice. The post-dated cheque is not payable till the date which is shown on the face of the said document. If you could not cash a check that was posted dated, or the bank had to hold a deposited check until the date, there would be no issue here. If she has sent her rents, post dated, why would you even consider depositing them before each due date?
In Serbia post-dating cheques is a customary practice in the retail industry. Clearly, your tenant dated the checks with the intent of paying on those dates, otherwise she would have written one check for all the rents. Apparently she will be traveling a lot and didn't want to forget to pay. Banking and Loans Checking Accounts.
For example, assume that today is Jan. From Wikipedia, the free encyclopedia. Many get excited about posting and don't engage common sense. If you write one, complications with enrollment among other things are a possibility. Comptroller of the Currency, don't take online dating too Administrator of National Banks.
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Your bank should not let you deposit them until after the date. If they say no, then that's that. Risks for the Landlord As a landlord, collecting a check that has been postdated could be dangerous.
While you can deposit all the checks, accepting the checks implies that you agreed with the arrangement. Otherwise, I will hold on to the checks and do it manually. The date you choose to use is not part of a legally binding agreement between you and the payee. Unless you are percent sure that the tenant can be trusted and that there will be funds to cover the check when it is ready to be cashed, it may not be a good idea to accept a postdated check. To get a bit philosophical this is a great example of how government, regulators, big banks etc.
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That's really hard to believe! In other words, you could postdate the check. Whether a post-dated cheque may be cashed or deposited before the date written on it depends on the country. Accepting a check that is postdated may provide the tenant with a legal defense that negates criminal intent even if the check doesn't clear. Writing one that bounces could trigger penalties and interest charges.
Pre-paid rent with post-dated check. When can I deposit it
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- If you go to the teller they won't accept it.
- Luckily most people will honor that intent, just apparently not the jackholes that make up the rules.
- Cashing a postdated check might be a challenge.
- Also what an eloquently simple solution to making sure you get a payment to someone on time without having to worry about the funds being available when you send the check.
Hold them or send them back. Write a date for the future on the dateline. On one occasion we did have a tenants cheque prematurely forwarded for clearing. As a relatively new landlord, still I was posting to gain perspective and to bounce my ideas off of a more experienced community for a situation I hadn't run into.
As Bill Gulley indicated, I perhaps did not think my question through carefully enough before posting. You really shouldn't post-date a check. If you need a few extra days for funds to clear in your account, ask your payee for an alternate payment date.