My tennants want me to cover their bounced check charges

B) The way i read i see it you are both 50% to blame.

 

They definitely were at fault but a little sugar goes a long way, especially if they are good tenants...Can't let them off scott free though. I think splitting it in half is a very nice gesture on your part and will be a deter from this happening again.

 

If it is after the time of the last deposit of that day, most banks in the U.S. will actually put the following day on the date of the reciept. Look at your reciept and I bet you it will say 5/6....If they get upset about your comprimise, this would be a good piece of evidence to show them that you are being 'a nice guy'.

 

I don't agree. Most of the time rent is due on the 5th. Waiting till after last deposit on the 5th is no different then waiting till before 2pm (thats the cutoff time here) on the 6th. Unless he cashed the check....which it doesnt sound like this happened.

We still came to the same conclusion though!

 

Good tenants: suck it up, give a check rather than a credit; the results the same but cash is more impressive.

A tenant that's beholding to you is likely to take care of the place better.

 

If you agreed not to deposit until 6 May, I think you're hosed. Still, it's bad practice to write a check for which there are no funds. The "floater" turned into the "bouncer."

 

The banking system is totally different here in the UK, after reading your post i would say that the tenants are 100% wrong, but still split it as a goodwill gesture.

 

I'd say its pound sand time. I would tell them that you will wave the late fees this time but next time watch it. And I would make sure that my new lease clearly stated that the late fee's are $165.00.

 

I always wave late fees THE FIRST TIME...its a nice gesture...

Sounds like you agreed not to deposit until the 6th...you may have to eat it. See if your contract charges a late fee if not paid by the 5th...may mitigate it somewhat...

Keep in mind good tenants are hard to find. I always give small gifts on thanksgiving, christmas, etc. Tenants respond very well to that . But if they screw up, I firmly SCREW THEM. Works for me.

 

Well bud,

I'd say that you were nice to agree to wait and deposit the check on the 6th. Problem is you didn't wait until the 6th. Yes, you could have said no but you agreed.

YOU need to keep your word to deposit on the 6th. So IMO you need to bite the bullet because you AGREED to wait until the 6th but you didn't. Regardless of what time you deposited the check

 

Either A or C is the same to me. Having a good relationship with tenants is important, especially if you don't have a management company, imho.

 

My sentiments exactly...

 

Peter.

We both know good tenants are hard to find. If they otherwise take care of the unit, pay on time, don't annoy the neighbors, etc, the $165 is a cheap investment in the future.

Would you like them to renew?? Pop 'em the $$$, give 'em cash, then tell them next time not to give you a check that won't clear when presented.

Might be a good moment to see if they want to up for another year. Raise the rent $165 a month.

DM

 

Eat it. Next year if they renew, raise the rent an extra $13.75 a month over whatever you were going to!!

 

With no regard as to how good tenants they are, you said you'd deposit it the 6th. You didn't. Bam.
Now add to that they are nice tenants ... just shell out the 165$.

 

Business is business, you gave them a 5 day grace period, I think you were great already. They bounced it, they are at fault.

I need to ask, here in Canada a bounced cheque is $20.00 and $10 for the one that deposited it. Why is it $165.00? Maybe the bank needs to pound a bit of sand on this one also.

 

Good man.

This choice (called "the right choice") will pay dividends down the road (not to mention you can bump the rent $10/mo ).

 

Way to go! I approve

 

May all landlords follow by your example. Landlords have to deal with a lot of crappy people, but the good ones deserve the breaks. I applaud your desicion and I agree with Uro about seeing dividends down the road.

 

Well done bro, I'm sure that you'll get credited back in many different ways

 

After the yellow piece of paper you got yesterday, you may just need the $165!!!

 

You could comingle the funds - refund the 165 out of the deposit they gave you. At the end of the lease if they trash the apartment you will eat the deposit anyways, and if they leave on good terms and don't trash the apt. just fork out the 165 out of your pocket and consider yourself lucky to have a good tenant.

 

I NEVER take a post dated check, for what ever reason. If someone asks I will agree to hold it for deposit later BUT it has to have todays date on it. No exceptions. I figure if they want me to accept a bad check that day they don't get to call the shots, we will do it on my terms. That's fair enough.
Here in Alabama if you accept a post dated check you have no claim against them if it bounces. The state says you should have never taken it in the first place knowing it was not good at that moment. I agree, so I don't. That way if it does bounce and they ask me if I accepted it post dated (they do on the paperwork) I can legally say no I did not. I have never had one single problem with this in the ten years I have been in business.