When do landlords cash checks

They would rather pay the small fee for the stop payment and stay in control of their money than to risk having you present the check when they are not ready for funds to be withdrawn. The best thing to do when you have a stale-dated check situation is to contact the tenant and let him or her know that you will be depositing the check in the next day or so. This gives the tenant a chance to ensure that funds are available and to make other arrangements if necessary.

The tenant may want to write you a new check with a more current date, for example, so the bank will not experience holdups or delays in cashing it out. Be consistent when it comes to depositing rent checks so your tenants can have some stability in knowing what to expect. If paper checks are causing your tenant trouble and giving you headaches, it might be a good time to work out a direct deposit plan with your tenant or other form of electronic transfer.

You could even offer an incentive for your tenant to do so. Whether you continue to accept paper checks or move to a more modern method, remember that communication is always important when it comes to working out solutions with your tenants. Ultimately, it would be ideal for you to wait to cash the check, though it may not have any legal impact.

The landlord must provide the tenant with a written receipt for the deposit and the name and address of the depository, as well as inform the tenant of any change to the depository. The landlord gets to keep all interest garnered from deposit money unless otherwise agreed upon, as detailed in RCW In RCW That landlord must then provide the tenants with the name, address and location of the financial institution where the money is being held.

If the property goes into foreclosure and is sold at an auction the old owner must refund the deposit back to the tenant, or transfer the deposit to the new owner of the property. Your landlord may agree to apply your deposit towards your rent, but it is very uncommon and they are not legally obligated to do so. Usually the landlord will want to use your deposit for possible damages to the unit first, and then begin an eviction action against you to compel you to pay the rent.

It depends. The landlord must send a written accounting of how they used the deposit money within 21 days after the landlord learns of your abandonment of the unit. Look to the lease to see the specific terms and conditions under which the deposit is refundable.

The landlord can generally use the deposit towards any unpaid rent or any damages the tenant causes to the unit during their tenancy. Damages include any lost rent and the cost of advertising the unit for re-rental.

If your landlord tries to charge you more than their actual damages, or continues to charge you rent in addition to taking your deposit or charging you a termination fee, you could argue that the landlord is attempting to penalize you. However, it is unclear how the courts will interpret this law. Speak to an attorney for more information and advice on your specific situation.

Can a deposit be nonrefundable? Should I cash it if I believe that I am still owed more of the deposit back? Is that legal? Currently you have JavaScript disabled. In order to post comments, please make sure JavaScript and Cookies are enabled, and reload the page. Click here for instructions on how to enable JavaScript in your browser. Share On Facebook. Share On Twitter. Share On Reddit.

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