Is it fine if i agree to this?
2007-11-20 06:56:38 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
because then they are in control over the payment being made on time. they don't have to worry about you forgetting, and they don't have to worry about going to the bank and cashing your check. It works out well for everyone.
2007-11-20 06:59:46 · answer #1 · answered by Steve W 2 · 2⤊ 0⤋
It's a big advantage for your manager not having to worry about getting paid. It's also an advantage to you not having to worry about writing a check each month. It can also help you establish a good credit history provided you do not have any overdrafts on your account. just make sure you have the rent money in your account each month and you'll be fine.
Good luck.
2007-11-20 15:06:09 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Can you guarantee that the money will always be in there? Can you guarantee that you will never need to postpone the rent in order to make other payments? Generally, I do not give businesses access to my accounts. I have been burned by that a couple of times. I have had problems with companies taking out money even after they were supposed to. I have also had problems when the companies decide that I owe a fee and just take it out.
I would not agree to this setup. I can see the apartment people taking money out before the money is in your account and you rack up charges for overdraft. I can also see them taking out money to cover "damages" after you have left. You are giving them too much control when you give them your bank account.
2007-11-20 15:02:28 · answer #3 · answered by A.Mercer 7 · 0⤊ 1⤋
They will get their money even if you decide to end your lease early. You need to review your lease very carefuly as well as when you leave make sure the property is in the same condition, take lots of pictures before and after for your own protection. If things are wrong with it they can possibly file for damages and take your money. If there are things wrong with the apartment in Pa there is an escrow law stating you can hold your money in an escrow account equal to rent if theyre not fixing things but if they take it out directly it could possibly cause problems it just depends on your state as well as the condition of the property
2007-11-20 15:21:59 · answer #4 · answered by markf_07 2 · 0⤊ 1⤋
Because then they will get the rent on time....
There is nothing wrong with them offering this.
It is up to you to decide if you want to do it.
Make sure you understand exactly which day they will be taking the money out of your checking account.
2007-11-20 15:00:32 · answer #5 · answered by educated guess 5 · 0⤊ 0⤋
if the 1st of the month falls between paydays and you don't have enough in your acct - you'll get overdrawn - if you write checks - you can control when you give them th check - usually have a few days before being considered late - I do it all the time with my mortgage - I pay online, I choose the day to pay - not the mortgage co.
2007-11-20 16:39:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It's an incentive for paying rent on time. I wish I could offer my tenants that deal!
2007-11-20 17:05:04 · answer #7 · answered by Wendi 5 · 1⤊ 0⤋
you will never be late for a payment. They control the withdrawl - whether it's convenient for you or not.
2007-11-20 15:00:58 · answer #8 · answered by words_smith_4u 6 · 0⤊ 0⤋