how long does it take for your apartment rental office to cash your rent check on average ?

Question

i'm trying to avoid a late fee i don't get paid until the 7 but rent is due on the 1st considered late on the 2nd this is a big apt community thats why i'm asking how long to get an idea to decide if i want to write this check an take a chance because i'm on a tight budget

Answer 1

i always collect on the first or the second and deposit them on the 15th of every month.

learned the hard way that renters will write bad checks just to say the rent is paid but do not have enough in their accounts. By depositing on the 15th ( next pay period ) i have yet to have a bounced rent check.

your results may vary with your tenants

Answer 2

As a landlord, I tend to deposit rental checks as soon as I receive them, or within a couple of days, since I accumulate the rent checks which arrive near the first of the month.

However, now and then my somewhat sloppy record keeping manages to slip a tenant rent check into the rental file, and it may not get deposited immediately, or until the next month or two. I deposit them when I discover them, and that sometimes makes tenants irritated. Even though a tenant should reliably balance a checking account so that they KNOW the value of outstanding checks, many do not. Now, I phone in advance of such a deposit, advising what occurred.

Answer 3

When I worked for a rental property managing company, we'd deposit the checks the same or next day of receiving them. Some tenants post dated checks, so we couldn't deposit them before that date. However, if the check was post dated for after the 3rd business day of the month, it was late.

Think of it this way - when will the money be available to the landlord? Even if you write a check dated the 1st of the month and they deposit it on the 1st, if the check bounces, the landlord hasn't gotten his money. Therefore, you're late. Save yourself the bank fee and let your landlord know you'll be late on the rent. He may cut you some slack and waive the late fee or he may not. But at least you avoid the bounced check fee.

Oh, and check your lease. There may be a clause about bounced checks. The company that I worked for, if you bounced 2 checks during your tenancy, we would no longer accept your personal check. We also didn't accept cash, for security reasons. That meant that tenants would have to pay by money order or cashier's check.

Answer 4

Get a No Cost Background Check Scan at https://bitly.im/aOmHe

Its a sensible way to start. The site allows you to do a no cost scan simply to find out if any sort of data is in existence. A smaller analysis is done without cost. To get a detailed report its a modest payment.

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Answer 5

I own several rental properties and ALWAYS deposit my rent checks within 3 business days of receiving them. My renters are typically young and on tight budgets so I try to help them stay as solvent as possible so that there will be money in the bank for next month's check as well.

Answer 6

My rent check usually clears the bank within a day. I'm not sure if it's because the company that manages the apartment complex uses the same bank as I do or they do everything electronically, so there is ZERO float.

Answer 7

Rent-To-Own Home - http://RentToOwnHome.uzaev.com/?nQeb

Answer 8

About 60 seconds!! (LOL)

Answer 9

Do not think so

Answer 10

Well, it depends..