(Closed) Direct deposit for rent?

posted 6 years ago in Home
Post # 3
Member
1190 posts
Bumble bee
  • Wedding: August 2012

We pay our rent through direct deposit. We love it because we don’t have to waster checks as well as it is one less thing that we need to remember to do.

I’m not sure if you’re bank as this or theirs but you could also do internet transfers if that makes you feel any better about doing it electronically. I think I get charged 1.50 or something everytime I need to do one.

Post # 4
Member
1190 posts
Bumble bee
  • Wedding: August 2012

Or maybe you could post date all the checks and send them all in one envelope so they can cash them accordingly? That may be a compromise

Post # 5
Member
1729 posts
Bumble bee
  • Wedding: December 2012

That does seem weird. ive done property management before the business in im now. I would not allow auto draft from your checking account.

If anything i would set up a seperate account for rent only that they would have access to… keep your personal items seperate. Even tho there is plenty of legit people out there you never know.

I would also make sure that is it written in a binding lease that they willl ONLY draft the amount specified and only on the dates agreed.

And make sure you get a copy of the lease.

Post # 7
Member
913 posts
Busy bee
  • Wedding: April 2014

Direct deposit to me means you set it up through your employer. If that’s the case I think it’s OK as you have total control over it and they never see any bank account information whatsoever. Just make sure you have records of all the rent deposits!

Post # 8
Member
2183 posts
Buzzing bee
  • Wedding: November 2011 - Florida Aquarium

We have to do this, too. But, we take a check to their bank every month and deposit it. I want the proof that we gave them the check.So, we don’t do direct deposit, but we do have to deposit money into their account directly. I still don’t understand why I can’t mail a check!

I had never heard of this either. We’re renting from the house’s owner, and it’s her policy.

ETA: Maybe you could ask about making the deposit yourself? That would be a solid compromise.
 

Post # 10
Member
9029 posts
Buzzing Beekeeper
  • Wedding: June 2011

I prefer direct deposit over checks. Because with checks you have to rememeber to mail them on time etc but a direct deposit set up to out of your account on a certain day each month, its easier plus there is still an electronic trail. I always worry about our checks getting lost in the mail

Post # 11
Member
1190 posts
Bumble bee
  • Wedding: August 2012

@7-9-11bride:i am not sure about the grace period. I don’t think they have ever taken money out early if the 1st lands on a weekend or holiday. We do rent through a major property management company. I don’t think it would be legal to take it before the 1st of the month?

Post # 12
Member
899 posts
Busy bee
  • Wedding: November 1999

When we lived in an apartment, we did direct deposit for our rent. We set it up through our bank account – on the first of every month, they made a payment to the rental company. 

It was very convienent. I wouldn’t be worried about it. 

Post # 13
Member
3375 posts
Sugar bee
  • Wedding: October 2011

I prefer to just pay it online. My mortgage is so much money, that I need to make sure that we have enough to pay it. I normally pay it right after we get paid.I have alerts set up that tell me if it’s due in week and I havne’t paid it.

I dislike checks too because you have to mail them and it all takes so long!

Post # 13
Member
667 posts
Busy bee
  • Wedding: June 2012

don’t let them do the auto direct depost. I’ve had bad experience with that. Give them a certified check or use your bill pay to put it directly into their account. You do not want someone knowing your account info. Or another Idea is to open a seperate account that you only deposit the amount you need for rent and nothing more. This way they will not have access to more money than they are supposed to take.

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