Post # 1
Yesterday I told DH to please contact our Landlord and find out when she will be depositing our rent check.
Its the 18th! Next Friday is the last day of the month, and I will giving in another rent check, that will be 2 checks I have to wait for to clear!
DH is telling me that he doesn’t understand why its such a big deal, if you have the money in the account, why do you care when they deposit it?
I work for a property management company and I happen to work in the accouting department and part of my job is to make sure the rent checks that come in get deposited the next day.
I don’t live in a big building, there are 4 apartments on each floor, and there are only 4 floors. I think one time she told DH that she waits until she gets ALL the rent checks and all tenants must give them to her by the 5th of the month. I just think its rude to sit on checks for almost 3 weeks! I like a balanced checking account.
Please help me with reasons as to why its important that a person who receives a check to deposit it in a timely manner?!
Post # 3
@Daizy914: I agree with your husband on this, I don’t see the big deal. If you’ve already accounted for the check and the money is in the bank, I don’t see why there would be a problem.
Post # 4
@housebee: I like a balanced check book, and I don’t see why you anyone should hold onto a check for that long.
Not that I have EVER bounced a check, but what if I forget that she hasn’t deposited the check yet and it does bounce?
I am also not comfortable with giving a money order or bank check because its basically like giving cash, and if it gets lost, its really hard to get back
Post # 5
Its totally annoying and rude! You want to look at your account and see the actual number available to you- not scramble with some math problem!
Post # 6
You are 100% right! When you write a check to someone, in your mind you’ve spent that money. When they don’t deposit it promptly, it creates worry — will they ever cash it? Is the check lost? Will you eventually forget that they haven’t cashed it and move that money out of your checking account, leading to an accidental overdraft?
It just means that you have to do the extra mental work of rmeinding yourself that the check is not cashed every time you look at your checkbook.
It’s also annoying because if they wait a long time to cash it, you could have had the money in an interest-bearing account, working for you, rather than languishing in your checking account. And, on a petty level, it annoys me because it makes me wonder why I had to write a check by a certain date if the recipient obviously does not need it right away.
Post # 7
but what if I forget that she hasn’t deposited the check yet and it does bounce?
@Daizy914: Hmm, maybe I’m confused, but how would this happen if you’ve balanced the check book? Wouldn’t you deduct the amount when you wrote the check?
Post # 8
another agreement that it should not be a big deal… But because it is, what about setting up an automatic transfer to your LL’s account?
also, what are you waiting on to be able to do? Just curious.
Post # 9
@Daizy914: I agree with you, and your DH, lol.
I think your landlord needs to be contacted, but instead of asking when she will deposit the check, ask IF she received your check because it has not cleared your account, and you do not want to be penalized with a late fee. If her response is she waits until all rent checks are received, no harm no foul, because the money is accounted for in your account, etc.
For me, I do not panic about a balanced account so much, with these types of delays, but rather I worry about a check getting lost, or misplaced, etc 🙂
Post # 10
One time my land lord took over 2 weeks to deposit the check and i emailed her to make sure she received it. I didn’t want it to get lost in the mail, anything longer than 2 weeks too long.
Post # 11
@Daizy914: I would just call to make sure they have your check
Post # 12
@housebee: I am just being paranoid. I never have bounced a check and I do balance my check book.
@babeba: I am not waiting to do anything, I just think that she should deposit the checks in a reasonable amount of time. Its due by the 5th of the month, I give her 10 days, but its now the 18th, and I know she won’t be depositing it this week because she will be going to work. Its just annoying. Automatic transfers won’t work because I would still have to wait for her to deposit the check. THe only other thing I can ask is doing a wire but then im paying $35 to do that! Ridiculous
Post # 13
@Daizy914: I agree that it is annoying, it’s not that you’re going to bounce the check but you just have to keep reminding yourself that it is out there. However, probably easier to do so when it is a larger amount (rather than say you wrote a $50 check to someone).
However, if it bothers you and not your husband, I think the clear solution is for you to call the landlord. It’s easy enough to do so with the line that you just want to make sure she has it.
Post # 14
@Daizy914: Our property manager does this with our HOA checks each month. It annoys me to no end because I keep a very small amount of money in my checking account since it doesn’t bear interest and hate having to watch for it to come out. I have overdraft protection just in case, but it still annoys me. I don’t really have any good reasons other then personal preference though!
Post # 15
@MmeVT: for a $50 check, I don’t care, but when I am giving you a check for over $1000/mo, it would be nice to cash it in a timely manner.
Post # 16
@Daizy914: I agree with you that it is annoying. I just meant that you’re not going to look at your bank account, notice that it’s +$1000 over normal and forget that your rent check hasn’t cashed. You might more easily forget about a smaller check and if you don’t keep a lot in your bank account that might cause a problem.