Always collect move-in monies from your Tenant in “Real Money” When you have a Tenant getting ready to move into your property, typically you will trade them the keys to the property for their final balances due; deposits and first month’s rent. Always collect these funds in what we call “real money” . . . cashier’s check or money order. Unscrupulous Tenants have been known to pay their move-in funds with a personal check, get their keys and stop payment on their check. Then the Landlord (you) have given possession to the Tenant, have no money, no income and a couple of months of legal wrangling to look forward to before you can get your property back. And don’t forget about the make ready costs to market your property again!
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