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Opinions regarding Tenant paying by cash lodgement to account

  • 16-11-2010 10:20pm
    #1
    Compudaro
    Registered Users, Registered Users 2 Posts: 299 ✭✭


    Opinions on the following scenario please:

    Tenant doesn't want to pay rent by standing order but instead wants to lodge the cash herself into the landlord's rent account each month.

    I'm just looking for opinions on whether this method (the latter) is satisfactory? (particularly when it comes to the landlord doing his tax returns at the end of the year)


Comments

  • #2
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭Our man in Havana


    It makes absolutely no difference.


  • #3
    Compudaro
    Registered Users, Registered Users 2 Posts: 299 ✭✭Compudaro


    Thanks Haddockman, hope you weren't "codding" me....
    Sorry, couldn't resist!

    Thanks again (seriously).


  • #4
    shaunsweb
    Closed Accounts Posts: 57 ✭✭shaunsweb


    Without stating the obvious, the only time problems will arise will be if a situation arises and the tenant misses a month of payment, then two, then wants to pay in smaller installments to make up the difference (that could get a bit messy).

    At least with a standing order, you are guaranteed by the tenant's bank to get the money until the order is stopped (usually when tenant moves out) and at least you won't be left short.

    Don't forget one thing though:
    You are the landlord and you decide what method of payment you want. If you want to go through the bank, then that's the way your tenant should pay you


  • #5
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭Our man in Havana


    At least with a standing order, you are guaranteed by the tenant's bank to get the money until the order is stopped (usually when tenant moves out) and at least you won't be left short.
    A standing order guarantees nothing.


  • #6
    shaunsweb
    Closed Accounts Posts: 57 ✭✭shaunsweb


    It guarantees that you will at least see some money on a monthly basis (if it is in the tenant's account of course. If there is no overdraft facility set up on the account then yes it guarantees nothing). Better than having the tenant pull a houdini act :) before they are due to pay their next cash installment


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  • #7
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭Our man in Havana


    It makes no difference how the money ends up in the landlords account. The landlord has no way of knowing if a SO was ever setup. All he will see is the money appearing each month. He won't be able to tell what medium the money came from.


  • #8
    shaunsweb
    Closed Accounts Posts: 57 ✭✭shaunsweb


    I think all landlords would be happy to get the money into their accounts.

    I do see where you are coming from and understand that viewpoint. Lots of people prefer to deal in cash transaction.

    But again I would like to reiterate what I said before: I would sooner have a standing order from the tenant's account to mine because at least you will know that on a given day each month, the money will be there.


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