What Option Do I Have For Move In Payment
I have a lady that wants to rent a house from me. Her credit, background, and references checked out fine. She has an out of state bank. I told her that I can only take a money order, cashiers check, or cash. She called her bank and said that she can wire transfer the money or I can call to confirm the money is there through the bank. Can I actually call the bank to get this information? What other options do I possibly have for getting the money without a normal check? Thanks in advance.
The bank will not give out the remaining balance.
The least they will do is to tell you if a check is good
or not if you call them with the account number and
the amount of the check.
Now here are my thoughts.
If this is going to be the payment of the deposit, then
i would just do a 1 time Cashiers check/MO that is
couriered to you. You can initiate a pickup, that way
you know what is going on.
If it is about the monthly rent payment, i would setup
a direct debit from her account and a direct deposit
to yours.
The tenant has no need to know about your bank
account details. So wire transfer is out.
Good luck
-Krish
in California i have a sec 8 tenant renting at $1175. gov pays
only 898. tenant pays the rest.
theres nothing illegal about it.
Sorry to all of you who think this is legal - it is not.
(I have worked for our local Housing Authority for 19 years determining eligibility and calculating rental payments.)
The Section 8 tenant will pay a portion of the rent based on their income (as verified and determined by the S8 administrator) and the S8 program will pay the balance of the rent (up to maximums that vary by city and bedroom size - utilities also come into play.)
The contracts will state how much the tenant will pay and how much the S8 program will pay. Paying (or accepting) any side payments is fraud.
It is also fraud to have anyone living in the home who is not listed on the lease.
It is always best to follow the rules. Have her contact the S8 administrator about adding him to her lease.
For example, I have a 2 family house in Phillipsburg, NJ - I charge $648 for rent... Section 8 pays $568, tenant pays $80. This is nt illegal. This is how section 8 works. This is not fraud. This is not immoral. This is how the program works.
[addsig]
Apparently not in Minnesota. Lucky you .
I rented to a Sect. 8 here in CA and you have to fill out an application to the housing authority (HA) that says that you have to work by their rules: annual inspection, limit on rent, 30 day notices, etc. The HA sets a maximum on the rent and pays a percentage of it. This percentage changes and whatever is left, is what the tenant pays. The tenant is also fully responsible for the deposit amount, which was set by the HA.
I have two duplexes that I rent to Section 8 tenants. The rent is the same on each of the 4 apts 300.00 per month. Section 8 pays a portion of each tenants rent based on income, utilities, etc. Section 8 does not pay the same amount for each tenant, but they know the rent is 300.00 and each tenant pays the balance. I am inspected each year (just had that yesterday) and I have to meet their guidelines, but they are very aware the tenant is paying a portion of the rent and the tenant was responsible for the deposit that I required.
EB
[quote]
On 2005-03-09 13:29, mattfish11 wrote:
For example, I have a 2 family house in Phillipsburg, NJ - I charge $648 for rent... Section 8 pays $568, tenant pays $80. This is nt illegal. This is how section 8 works. This is not fraud. This is not immoral. This is how the program works.
[/quote?? is the 80dollars approved by section 8,because some tenants are only approved for part of the rent and are required to pay the rest.
[quote]
On 2005-03-09 13:29, mattfish11 wrote:
For example, I have a 2 family house in Phillipsburg, NJ - I charge $648 for rent... Section 8 pays $568, tenant pays $80. This is nt illegal. This is how section 8 works. This is not fraud. This is not immoral. This is how the program works.
[/quote?? is the 80dollars approved by section 8,because some tenants are only approved for part of the rent and are required to pay the rest.
I think aquerido answered this best. S8 has a maximum rent that they will allow for a unit to qualify for the program. This does not mean that they will pay this full amount, just that this is the maximum amount the Landlord can ask for. It is NOT illegal for the tenant to pay a portion of the rent as long as this does not exceed the maximum allowable rent for said unit.
Ljeffery, you need to call your local housing authority and ask them what the maximum rent they allow. Remember that this usually includes utilities.
If the number works for you, then you are well within your rights to have the tenant pay the difference btw S8 payment and your actual (Approved) rent.
Hope this helps.
JS.
Well,
I think this one, i will see it through. I also have a
realtor friend that will support if need be. Probably will be made to take over managing of the premises after this crap ends. Having good friends and neighbours in
the area does help.
Here is the sequence of events. Screened using
www.ntnnet.com, nothing serious. The credit was
just above 600. Their then landlord never returned
calls. This was a family with 2 kids. I was looking to
rent to a stable renter. Later after the lease was
signed, i got a call from their then landlord who said
that their checks bounced, but on notification was
rectified.
What ticked me off was that prior to possession of
the premise, they changed cell phone numbers.
Knowing collection would be a problem, i put them
on the electronic payment, so rent payments will
be easy as well as good control over the tenants due
to the fear that it will hit their credit. Assignd another
friend as the handyman contact and it is all in writing.
They closed the bank account tied to the automatic
plan. Then wanted to pay rent 15 days late with late
fees.
Regarding their running a day-care, they have a
neat cellphone voicemail with the details.
I will need to tape it as proof the next time around.
Either way, the late on rent factor is what i am going
to stick to and use.
I had a friend deliver the Pay-or-quit notice that i had
signed and faxed to him. He wrote the name of the
tenant and the time he delivered it. I also sent the
same letter by certified mail. Both the letters are
identical and also refer to the 2 delivery mechanisms
on each. Their clock starts ticking from today and is
what i want.
Mentioning that we will be leaving town was indeed
a mistake, but i am going to prove that they are
messing with the wrong person. Filing eviction will
pop up in all civil records as well as ding their credit
by filing that as well.
They paid over 25% of the deposit at the time of
application. The balance of deposit and the part
months rent, they provided checks. We handed the
keys, finished the walk thru signoff, the automatic
plan sign off etc, handed the keys and left town. It
was past 8pm and the bank was closed. The next
morning, i called the bank and voila, no money in
the account. That was when i called and they fixed
the issue in 3 days. Now that they did it a second
time is all the ammo i needed.
Here is a link about the eviction process.
http://avenue.org/tjach/eviction_process.shtml
Here is a link about the timeframe.
I can go to court to get the Unlawful Detainer on
Day 6.
http://www.co.prince-william.va.us/default.aspx?topic=010069000120001657
Will be collecting the rent with reservations even if
they pay and will intend to continue with eviction.
Damn it, they never even talk about slipping until
i call to find.
Well, thanks for letting me vent.
-Krish
The only thing you did wrong in my books is take a personnel check. We make new tenants get cashiers check or money order.
[addsig]
Sorry for butting in but I have a tenant on a 3 day notice pre Eviction in Hollywood, FL. I was wondering how to notify the credit bureaus to help future landlords avoid this nightmare.