i find it a bit dodgy, why do they have to take cash...cant they do it via direct debit?The rest of the rent you pay by direct debit but why do they take cash for the 1month deposit and advance...pls let me know
2007-02-01 04:26:52 · 13 answers · asked by aRAe 1 in Business & Finance ➔ Other - Business & Finance
ITS THE LAW- this is the same situation as trying to pay off a credit card with a credit card. Though your card may be a debit card many states have laws that state you cannot use a debit or credit card for:
Paying off a credit card
Paying a down payment on a home
Security deposit for renters
any transaction in which the sole purpose of the transaction is to provide a financial security
A rent deposit is a form of a Financial security.
regards
2007-02-01 05:22:39 · answer #1 · answered by skacutter 1 · 0⤊ 0⤋
You would have to ask the Landlord, their reason? My guess,
he has had problems with "Hot Checks" (bounced) and wants
to start out ahead of the game? If you pay in cash, be sure to get a receipt, and a rental agreement, to spell out the obligations of you and your landlord. Conditions on the treatment and refund of that deposit. Also, someone not able to start out with that much money, deposit and advance, is in all probability going to be a problem with future rents? Good luck! Would he take a "Cashiers Check"? If they insisted on Cash, they might want to avoid Tax (income) related issues?
2007-02-01 12:53:30 · answer #2 · answered by Edward C 2 · 0⤊ 0⤋
I personally don't like to pay cash for my rent and anything to do with my apartment. It can't be traced. Offer to pay by cheque or money order. But if they insist on cash, don't leave without a receipt.
2007-02-01 12:32:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They take the cash so they can spend it immediately and it is available in their pocket for dispose. This way, when you move in and find out that something is not working, they can get it fixed asap. Another reason why they take cash is because it saves them a trip to bank while paying the super, who only takes cash.
2007-02-01 12:31:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Keep your receipt! Then the form of payment won't matter...If the landlord wont give a receipt, look somewhere else unles you are planning on not getting the deposit back.
2007-02-01 12:32:05 · answer #5 · answered by FRED w b 1 · 0⤊ 0⤋
As long as you get a receipt from the landlord, I don't think it's fishy. Sometimes they use the cash to pay for carpet cleaning and painting.
2007-02-01 12:30:14 · answer #6 · answered by vgordon_90 5 · 0⤊ 0⤋
Because they then have cash in hand---no messing with banks, no waiting for the automatic deduction to clear, no worry that you as a future tenant will rip them off.
As long as you have a receipt and keep it safe, I wouldn't worry about giving them cash.
2007-02-01 12:32:18 · answer #7 · answered by ceetee 3 · 0⤊ 0⤋
whatever you do make sure it is all down on paper and that you have a copy. Don't give money unless you have all the terms and conditions (lease) in your hand. When giving cash make sure you get a receipt that same day.
2007-02-01 12:31:24 · answer #8 · answered by Ruth Less RN 5 · 0⤊ 0⤋
They probably need the money. Just make sure you get a signed and dated receipt from them and keep it in a safe place.
2007-02-01 12:40:57 · answer #9 · answered by Me, Myself & I 4 · 0⤊ 0⤋
They don't take cards because they do not have a merchant
account....Not everyone can accept credit / debit cards...
This does not make them "dodgy" in the least...
2007-02-01 12:30:56 · answer #10 · answered by Anonymous · 0⤊ 0⤋