OfflineI have a question from one landlord to another...
Would you accept a cash payment for several months of rent in advance? Does this put up any red flags? Can the tenant have any legal advantages over me in the future, for me accepting cash rent in advance?
Thanks
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Don't Wish the Past, Create the Future! - DH
If I were you I would ask an attorney. Better safe than sorry!
Joseph
I have been a landlord for many years. When an individual pays rent several months in advance my experience has been to count my blessings, especially if they did not ask for a discount. Typically the tenant has come across some money (ie., student loan, insurance settlement, inheritance, etc.) and they are simply trying to get ahead. By not asking for a discount they are showing a lack of knowledge about money, but I seriously doubt they are sitting you up for a problem.
Good luck.
Roy Voeks
Official RE Coach
so you are happy when this happens, right? and they did ask for a discount. (100 off a month) .Still happy, still accept it?
Don't Wish the Past, Create the Future! - DH
One hundred dollars is a lot unless rent is $2000. A 5% discount is appropriate, but more than that is too much.
Roy Voeks
Official RE Coach